4 ms·
What U.S. tax code provision allows an individual to write off (non-primary-mortgage) loan interest?
by valleyer 5mo ago
What U.S. tax code provision allows an individual to write off (non-primary-mortgage) loan interest?
- tombert 5mo agoCan't you write off capital losses? I've been able to deduct margin interest from my capital gains.
- valleyer 5mo agoMargin interest is tax-deductible, but only when you're using the loan to buy more securities. So, in context, a CEO who "works for no salary" and just takes out loans secured by their stock holdings to fund their lifestyle does not get to write off that interest. Not to say the "no salary" thing isn't silly anyway, of course.