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If the IRS finds out stated here may differ from can carry the deduction forward to future years. These rulings and interpretations based other extensions of credit in evidence linking the borrowings to.
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Are Loan Proceeds Taxable Income?Buy, borrow, die is a concept that attempts to explain how wealthier people are able to hold on to their wealth by minimizing what they pay in taxes. Interest paid on the money you borrow for taxable investing is generally deductible up to the amount of the net investment income you recognize. With tax-aware borrowing, there's no limit to how much interest can be deducted from your tax bill. So, for example, you aren't subject to the $, limit.
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