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Investors & landlords
When to apply the rule on
"deduct the interest based on the property secure the loan"
VS
"IRS publication 535, section 4 Interest - In general, you allocate interest on a loan the same way you allocate the loan proceeds. You allocate loan proceeds by tracing disbursements to specific uses." since the loan proceeds were used to refinance the rental property?
"deduct the interest based on the property secure the loan"
VS
"IRS publication 535, section 4 Interest - In general, you allocate interest on a loan the same way you allocate the loan proceeds. You allocate loan proceeds by tracing disbursements to specific uses." since the loan proceeds were used to refinance the rental property?
‎June 4, 2019
6:25 PM