India Home Loan - US Tax Benefit?

Discussion in 'Money Matters' started by coolguy, Dec 26, 2010.

  1. coolguy

    coolguy New IL'ite

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    Hello,

    I have taken a home loan in India and have been paying Monthly EMI to one of the banks in India.

    I work in US and do not pay/report my earnings/taxes in India.

    Can I avail tax benefits here in US for the EMI I pay in India? If so, what is the procedure to do that. Any information around this is much appreciated.
     
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  2. SriVidya75

    SriVidya75 Platinum IL'ite

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    Did you take the loan as an NRI? or NRE or NRO? and also best thing to do is disclose this information to your tax preparer, and he would be able to confirm..
     

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