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Subject:  Re: Investment Loan Expenses Date:  2/20/2002  10:46 PM
Author:  ptheland Number:  59171 of 127745

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.

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