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Author Question: Which of the following is deductible as interest expense? (Read 73 times)

FButt

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on: Sep 13, 2020

Question 1

When both borrowed and owned funds are mingled in the same account, for purposes of categorizing interest expense, a repayment of the debt is allocated first to
◦ personal expenditures.
◦ trade or business expenditures.
◦ investment expenditures.
◦ passive activity expenditures in real estate.

Question 2

Which of the following is deductible as interest expense?
◦ personal credit card interest
◦ interest to purchase tax-exempt bonds
◦ bank service charges on personal account
◦ interest on a home equity loan to purchase a car
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by FButt on Sep 13, 2020

kswal303

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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FButt

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

mjenn52

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Reply 3 on: Yesterday
Wow, this really help

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