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Registration Fees for apt purchased in India: US Taxes

Posted: Mon Apr 12, 2010 5:18 am
by mindOrHeart
I have purchased an apt in India in 2009, registered on my name. I did not take any loan from any financial institution for purchasing this property. I have rented this property.

I do not own a house in US.

Can I deduct Apt Registration fees (paid in India) in 2009 US taxes? If so, which form should I use to show these deductions.

I saw threads about mortgage but not on claims about the reg fees, so posting a new thread.

Thanks.

Registration Fees for apt purchased in India: US Taxes

Posted: Mon Apr 12, 2010 10:49 pm
by gwldaddu
If I buy a house in USA, I can not deduct the closing costs (except points). So, I would say, same applies to you. What you call registration charges is actually the closing fees. That is not deductible.

Not sure if rules are different for rental property. It is afterall a business expese...

Registration Fees for apt purchased in India: US Taxes

Posted: Tue Apr 13, 2010 12:22 am
by mindOrHeart
I was not aware that closing posts for a US house can not be deducted while filing taxes.