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Are registration charges (stamp duty) tax-deductible in the US?
Posted: Thu Feb 10, 2011 11:30 am
by idli-vadai
I know that property tax and interest paid (for an apt purchased in India) can be deducted, but is the registration stamp duty also deductible?
Are registration charges (stamp duty) tax-deductible in the US?
Posted: Thu Feb 10, 2011 2:36 pm
by kkassociate
Dear Member,
The registration and stamp duty charges are one time expenses and are capitalized, thereby increasing the value of asset. Where as property tax and interest is recurring in nature and expensed out.
Thus registration and stamp duty is not tax deductible in the US or in India.
We provide assistance in USA and India tax filings from Pune. You can email us on
[email protected] or visit us at
www.kkassociate.comRegards,
KKA
Are registration charges (stamp duty) tax-deductible in the US?
Posted: Fri Feb 11, 2011 2:44 pm
by kkassociate
Thank you,
Would be glad to provide services to your friend. Even if you need any, just drop me an email.
Regards,
KKA