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As H1B older (my immigrant status, H1B expiration in September

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2012) and not owning any...
As H1B older (my immigrant status, H1B expiration in September 2012) and not owning any home in the US can I buy home as Primary Residence and Legally deduct the Interest expenses? Any limitation?
Thanks
Submitted: 8 years ago.Category: Tax
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Answered in 48 minutes by:
11/2/2009
Tax Professional: Anne, Master Tax Preparer replied 8 years ago
Anne
Anne, Master Tax Preparer
Category: Tax
Satisfied Customers: 2,439
Experience: Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
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HiCustomerbr />
Thank you for using justanswer. Once you meet the Substantial Presence Test (in US 183 days during last 3 years, 31 days in current year) you will file as a Resident Alien
which means you are able to claim all credits, deductions, etc as any citizen of the US. You not only can claim the interest on the home, as long as you are not married to a Non Resident Alien, you may also qualify for the First Time Homebuyer Credit as long as you meet the other requirements, the same as any other US citizen or Resident Alien.

Please see below:


Publication 519 (2008), U.S. Tax Guide for Aliens

I hope this helps.
Anne
Anne, Master Tax Preparer
Category: Tax
Satisfied Customers: 2,439
Experience: Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
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