lipman@decwrl.UUCP (02/24/84)
Message-Id: <8402241700.AA17228@decwrl.ARPA> Date: Friday, 24 Feb 1984 08:59:56-PST From: nacho::mpalmer To: net.travel Subject: net.travel Newsgroups: net.college,net.invest,net.travel Subject: taxes on foreign income and US debts Can anyone out there give me information on what happens when you move out of the country and keep debts within the US? Here's my potential situation: I now have a mortage on my house in the States which is providing a healthy interest writeoff come tax time each year. Within a year or so I'd like to move abroad and go back to school. I am looking at schools in England, Germany, Japan, and France, but would be grateful for any information about other countries as well. What I'd like to do is rent out the house here, move, support myself by consulting part-time, and go to school full time. The question is: is the house still a reasonable investment? Will I be able to write off the mortage interest on my income tax abroad since I'll have no real income in the U.S.? Are there other ramifications I should consider regarding citizenship etc.? thanks for any hints... Mark P. decvax!decwrl!rhea!nacho::mpalmer