Can I use USA real-estate losses while filing India tax
Posted: Mon Aug 15, 2011 11:09 pm
Hi,
I and my family meners (wife and 2 kids) are USA citizen and I R2Id in year 2009. And I am ROR for 2011-12 Tax year in India. I have a home in USA and I rented out. But I am in losses as the mortgage + property-tax + insurance is more than the rent I get. And I have a rental property in India where I am making gain. While filing Indian Taxes as ROR, can I offset gain on India rental property with the loss in USA rental property? Anyone here is in my situation? Can anyone please let me know whether keeping USA rental property is profitable while living in India?
Thanks in advance ....
Regards,
r2iforapurpose
I and my family meners (wife and 2 kids) are USA citizen and I R2Id in year 2009. And I am ROR for 2011-12 Tax year in India. I have a home in USA and I rented out. But I am in losses as the mortgage + property-tax + insurance is more than the rent I get. And I have a rental property in India where I am making gain. While filing Indian Taxes as ROR, can I offset gain on India rental property with the loss in USA rental property? Anyone here is in my situation? Can anyone please let me know whether keeping USA rental property is profitable while living in India?
Thanks in advance ....
Regards,
r2iforapurpose