Foreign real estate taxes paid-Sch E-Deductible?

Forum|Forum|6 years ago
December 7, 2019
2 replies
27 views

It is my understanding that TCJA disallows foreign real estate taxes paid (IRC164). But can you take deduction on foreign real estate taxes paid on schedule E as TP is renting out his foreign apartment overseas? Thanks for your help.

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Best answer by itonewbie

George is correct. What you referred to is §164(b)(6)(A). Deductions for rental expenses, such as real estate taxes, regardless of whether it's domestic or foreign, are governed by §212.

itonewbieAnswer

Level 15

George is correct. What you referred to is §164(b)(6)(A). Deductions for rental expenses, such as real estate taxes, regardless of whether it's domestic or foreign, are governed by §212.

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George4Tacks

Level 15

A foreign rental is no different than a US rental. Income - taxes, insurance, property taxes, license, repair, .... depreciation.

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T

The Real HalloweenAuthor

Level 6

@George4Tacks It is my understanding that TCJA denies foreign real estate taxes paid as an itemized deduction, it seems that this should also rule Schedule E. But I am unsure whether TCJA's denial only applicable to itemized deduction or it also includes Sch E deduction. Thanks for your help.

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