CS
Level 1
12-07-2019
05:20 AM
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Best Answer Click here
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sjrcpa
Level 15
12-07-2019
05:20 AM
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Investment interest is deductible to the extent of investment income. i don't think rent counts as investment income.
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itonewbie
Level 15
12-07-2019
05:20 AM
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I though the OP meant it could be deducted if that piece of land was rented out but agree with you in that context.
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Still an AllStar
sjrcpa
Level 15
12-07-2019
05:20 AM
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It is hard to tell what OP meant.
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itonewbie
Level 15
12-07-2019
05:20 AM
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Yes but your client may elect to capitalize that as part of the carrying charges under §266.
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Still an AllStar
Still an AllStar
