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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: Re: Investment Loan Expenses Date: 2/20/2002 10:46 PM
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2/3 of the loan proceeds in fact went to purchase stocks. The remainder was used for personal items. Therfore, we have used 2/3 of the amortized loan costs and entered them along with 2/3 of the interest on on Schedule A , line 22 - subject to the 2% AGI limit.

I guess I didn't make it clear. The interest and the amortization of the loan costs go on different lines. Since you purchased stocks, the interest goes on line 13 of schedule A (and may require you to file form 4952). The cost amortization goes on line 22.

--Peter
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