Income Taxes and Record Keeping ( tax ) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: cj who wrote (376)	1/3/1998 4:29:00 PM
From: Colin Cody	Read Replies (1) of 5810

The interest allocated to the personal use debt is not deductible. The taxpayer needs to trace the debt proceeds and repayments as being personal, and then the interest thereon is not deductible. . If you are saying you have comingled personal debt and investment debt in the same account, then the RATIO of personal debt to investment debt would likely be used to allocate the interest. . Colin

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next