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To: Tommaso who wrote (16852)11/26/2004 10:53:04 AM
From: Haim R. Branisteanu  Read Replies (1) | Respond to of 116555
 
are you sure ? even if you use only for this purpose and took out the full amount in one transaction?

What about using credit card financing your business during hard times or start up?



To: Tommaso who wrote (16852)11/26/2004 3:03:41 PM
From: RealMuLan  Read Replies (1) | Respond to of 116555
 
>>Loans secured by a mortgage are deductible, not unsecured credit card purchases, even if these are used for home improvements.<<

I think one can deduct as long as one can prove those credit card purchase is for investment purpose (whether it is house or stocks) and does not use the same card for other non-investment purchase.


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