Texas Bankruptcy Laws

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October 18th, 2006

Deducting foreign mortgage payments (Bankrate.com)

Dear Tax Talk, I am a U.S. citizen working in South Korea for a U.S. company and I plan to purchase a house in S. Korea. I will have to get a loan from a local South Korean bank and pay a monthly mortgage. Will I be able to deduct the foreign mortgage payment on my income tax return? Thank you.

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