I bought a house in India in 2016. In that process I had to pay few different taxes to government. I took a loan as well. Which of these can I show in Itemized deductions?
- Stamp Duty (Specifically related to real estate buying process)
- Registration (Specifically related to real estate buying process)
- VAT (Type of Sales Tax)
- Service Tax (Type of Sales Tax)
- Loan Charges/Fees: Bank took bunch of loan fees and charges when giving me loan. I have all the receipts for the above.
I will be getting Loan Interest Certificate in few days from My bank.
- Loan Interest paid in 2016
In government taxes there are some which are type of sales taxes. I am not sure where I read, but it says that if you buy property outside USA, you can only show property taxes, no sales tax. Please let me know if you need anymore information.
Note: House is not on rent.