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Financial Planning / Tax Strategies


Subject:  Re: question Date:  7/6/2016  12:16 PM
Author:  foo1bar Number:  124338 of 132875

The only way to eliminate interest income on your return would be to eliminate the loan itself

Even though it wouldn't be eliminated, it may be possible to reduce the interest by redoing the loan at the current AFR.
I *think* that todays long term AFR is 2.16% - so if the current loan is 3.5%, could reduce the interest quite a bit.

I don't know AFR law - so I may be incorrect about whether 2.16% would be the minimum for a long term loan started today.
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