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If an S-Corp deducts interest borrowed by the owners to fund the business, can the owners also claim the interest paid an investment interest expense on their personal return?
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No, the owners can't deduct interest that is deducted by the business, as that would mean you were deducting the same interest twice.
To be clear, the S-Corp deducted the interest paid as a business expense in determining net income.
No, the owners can't deduct interest that is deducted by the business, as that would mean you were deducting the same interest twice.
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