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Not sure how US tax works but in Australia an individual can borrow to invest and deduct interest.
by quickthrower2 3y ago
Not sure how US tax works but in Australia an individual can borrow to invest and deduct interest.
- nocoiner 3y agoI believe from the facts that are known, he’s quite obviously not Australian, so alas, probably no deductibility for personal debt.
- sgerenser 3y agoThe U.S. also has an “investment interest expense” deduction[1]. Normally this is used with margin interest, but if any other type of loan (e.g. credit card advance) is taken out specifically to invest in securities, interest on said loan becomes deductible investment interest as well. [1] https://www.irs.gov/pub/irs-pdf/p550.pdf https://www.irs.gov/pub/irs-pdf/p550.pdf