Andrew borrowed $10,000 from TD and invested in ABC Corporation stocks. He paid $400 interest on this
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Question:
Andrew borrowed $10,000 from TD and invested in ABC Corporation stocks. He paid $400 interest on this loan. Andrew knows that ABC Corporation pays high dividends, he plans to earn dividend income and sell the stocks when the price goes up with capital gains.
Can Andrew claim the $400 as a deductible interest expense when he files his tax return ?
Related Book For
Taxation Of Individuals 2017
ISBN: 9781259548666
8th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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