I am considering purchasing a property outside of the U.S. as a rental property. Are there any different rules/restrictions for tax purposes? deductible interest? expenses?
I would strongly recommend a good international tax attorney. There are going to be new issues on either side of the transaction. Also, you can only do a 1031 exchange from foreign property to foreign property, so your exit strategies need to be reviewed.
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Bill Exeter
[ Edited by JohnLocke on Date 06/22/2004 ]
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I would strongly recommend a good international tax attorney. There are going to be new issues on either side of the transaction. Also, you can only do a 1031 exchange from foreign property to foreign property, so your exit strategies need to be reviewed.
_________________
Bill Exeter
[ Edited by JohnLocke on Date 06/22/2004 ]