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Financial Planning / Tax Strategies


Subject:  Re: Investment Loan Expenses Date:  2/20/2002  5:54 PM
Author:  ptheland Number:  59162 of 127613

Any suggestions on where to amortize the investment loan costs? Add them to the investment interest and report on schedule A, line 22?

Where did the loan proceeds go? If they were used for the rental property, then the loan cost amortization would go on schedule E. If they were used to buy stocks, then the amortization would be a misc itemized deduction (subject to the 2% of AGI haircut). If they were used in your farm, the amortization goes on schedule F. If they were used for a new Porsche, the amortization is not deductible.

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