ITGeek Posted January 25, 2017 Posted January 25, 2017 Hello, I am financing a mortgage for my home here in PI's with RCBC. Now that it's tax season, I need to obtain an IRS Form 1098 to deduct the mortgage interest paid for tax year 2016. I've already been advised by IRS that interest paid on foreign mortgages are deductible for my 1040 return. I went to local RCBC branch where my asawa asked about obtaining IRS Form 1098 and was met with blank stares. Has anyone here been through this situation and know how to obtain IRS Form 1098? RCBC is registered with IRS, since they have to report any income/interest I receive, so they should be able to report and provide me with interest I paid on mortgage. I printed out example IRS Forms 1096 and 1098 as reference so my asawa can show RCBC them and hope the manager or someone in Corporate Office will be able to provide the documentation so I can file my taxes. Thanks! Andy 1 Link to comment Share on other sites More sharing options...
Jack Peterson Posted January 25, 2017 Posted January 25, 2017 4 minutes ago, ITGeek said: I am financing a mortgage for my home here in PI's with RCBC. ITG that would be a debatable Question, are you or your Wife applying/ paying for the Mortgage. You see the BIR will not deal with you as you are not the land Owner and for me You will not be the owner in anyone else's eyes either. So any relief will go to your wife and not you But whatever I would respectfully advise you to go to the BIR Direct JMHO Jack 3 Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted January 25, 2017 Forum Support Posted January 25, 2017 Any form can be directly downloaded from the IRS web site. 2 Link to comment Share on other sites More sharing options...
robert k Posted January 25, 2017 Posted January 25, 2017 (edited) The mechanics of this are interesting. I'm going to assume you are married and filing jointly and your wife has a US TIN number? Edited January 25, 2017 by robert k 4 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted January 25, 2017 Posted January 25, 2017 1 minute ago, robert k said: The mechanics of this are interesting. Looking at this as if I was auditing the form. Either the man is married and its obvious that he is the one paying the mortgage and thus deserving of the deduction, or they are just living together, in which case he can loan HER the money and deduct. Either way: Approved. (Don't you wish I was your auditor?) 4 Link to comment Share on other sites More sharing options...
ITGeek Posted January 25, 2017 Author Posted January 25, 2017 19 minutes ago, Dave Hounddriver said: Looking at this as if I was auditing the form. Either the man is married and its obvious that he is the one paying the mortgage and thus deserving of the deduction, or they are just living together, in which case he can loan HER the money and deduct. Either way: Approved. (Don't you wish I was your auditor?) I am co-signer on mortgage, since my income was used to qualify for loan. The title of house is in both our names, but naturally the lot it sits on is in her name. She does have ITIN and since we're married and this is our primary residence, the mortgage interest and any taxes paid are deductible on my 1040 return. The fun part will be trying to get the Form 1098 (Mortgage Interest Paid) from the appropriate party, whether is is RCBC or BIR. I have 2 CPA's in my family but they weren't much help as they are not familiar with tax law related to expats. I contacted IRS directly and told them my situation and was told in my situation I can deduct any mortage interest and real estate taxes on joint filed 1040. On the good side, as expats, we are granted a 2 month extension to file (June 15th). If I'm due a refund (most likely) it's an automatic 6 month extension. But of course I want my refund ASAP. Cheers! Andy 1 Link to comment Share on other sites More sharing options...
Happyhorn52 Posted January 25, 2017 Posted January 25, 2017 (edited) I would start by sending RCBC an Email asking this question. Explain your situation and ask them to Email you the information. https://www.rcbc.com/contactus.php Edited January 25, 2017 by Happyhorn52 Link to comment Share on other sites More sharing options...
earthdome Posted January 25, 2017 Posted January 25, 2017 11 hours ago, Jack Peterson said: ITG that would be a debatable Question, are you or your Wife applying/ paying for the Mortgage. You see the BIR will not deal with you as you are not the land Owner and for me You will not be the owner in anyone else's eyes either. So any relief will go to your wife and not you But whatever I would respectfully advise you to go to the BIR Direct JMHO Jack Jack. The BIR has nothing to do with this. He needs a report from his philippine bank documenting how much interest was paid on the home mortgage so he can deduct that from his US Income Taxes. 1 Link to comment Share on other sites More sharing options...
Jack Peterson Posted January 25, 2017 Posted January 25, 2017 (edited) 16 minutes ago, earthdome said: The BIR has nothing to do with this. So why does he need a BIR Form? Edited January 25, 2017 by Jack Peterson Link to comment Share on other sites More sharing options...
earthdome Posted January 25, 2017 Posted January 25, 2017 2 minutes ago, Jack Peterson said: So why does he need a BOI Form? Its not a BOI form, it is a US IRS form 1098 issued by the institution that holds his home mortgage documenting how much interest he paid last year so he can deduct that from his reported income on his US IRS tax. Link to comment Share on other sites More sharing options...
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