2nd Home in Canada

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  • TomZ
    Junior Member
    • Mar 2006
    • 3
    #1

    2nd Home in Canada

    Does anyone know if interest on mortgage and taxes on a second home in Canada are qualified as itemized deductions for a US citizen living and working in the US? I have been wading through the US/Canada treaty but have not found my answer yet
    Tags: None
    • Bees Knees
      Senior Member
      • May 2005
      • 5456
      #2
      Code section 164(a)(1) says foreign property taxes are deductible.

      Code secton 163 does not contain any restriction that limits mortgage interest to property located in the U.S.

      A second home located in Canada qualifies for both deductions.

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        • TomZ
          Junior Member
          • Mar 2006
          • 3
          #3
          2nd Home in Canada

          Thanks for the info Bees Knees

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