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Deduct Credit Card Fees & Interest from money invested in Savings/CDs
Hello,
I paid cash advance fees and interest to borrow money from credit cards which I then put into interest bearing personal checking/savings/CDs. Am I able to write the cash advance fees/credit card interest as interest expense on my return? If so what are the rules for tracing the funds?
Thank you
Topics:
March 17, 2024
12:30 PM