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I don't see how the interest would be deductible. Except for the portion allowed under the mortgage exemption. And sure, the loan is not taxed. But the money t
by jjeaff 7y ago
I don't see how the interest would be deductible. Except for the portion allowed under the mortgage exemption.
And sure, the loan is not taxed. But the money that ends up being used to pay back the loan will have had to be taxed.
- mmastrac 7y agoUnsure how the US works, but loans for investment purposes in Canada are deductible against the income that the investments make.
- rolltiide 7y agoInterest is deductible if the loan was used for something profitable. What the loan was spent on can also be deducted if its for something thats intended to be profitable.