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-   -   Deduction of foreign property tax? (https://www.englishforum.ch/finance-banking-taxation/91279-deduction-foreign-property-tax.html)

dehansen 15.08.2010 10:56

Deduction of foreign property tax?
 
Hello,

I have what I hope is a simple question but can't seem to find a straight answer via Google...

We live in Switzerland but own a single-family home in the US which we earn rental income from. The rental income is declared in the Swiss tax filing and used to determine our tax bracket.

We know we can deduct things like Verwaltungskosten (admin expenses), repairs, etc. on the property; however we pay real estate taxes to the local government where the property is located, which swallow up all the rental income after these deductions. Can this property tax be deducted from the rental income reported on the Swiss tax return as well?

HollidayG 15.08.2010 11:11

Re: Deduction of foreign property tax?
 
Quote:

Originally Posted by dehansen (Post 909449)
Hello,

I have what I hope is a simple question but can't seem to find a straight answer via Google...

We live in Switzerland but own a single-family home in the US which we earn rental income from. The rental income is declared in the Swiss tax filing and used to determine our tax bracket.

We know we can deduct things like Verwaltungskosten (admin expenses), repairs, etc. on the property; however we pay real estate taxes to the local government where the property is located, which swallow up all the rental income after these deductions. Can this property tax be deducted from the rental income reported on the Swiss tax return as well?

I am in the same situation as you are. My gut feel is yes because
it is an expense associated with owning the property.

You really need a tax accountant though.


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