GREY:XEBEQ - Post by User
Comment by
savyinvestor333on May 09, 2021 4:17pm
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Post# 33162369
RE:RE:RE:Cash Damming
RE:RE:RE:Cash Damming Not quite If yo borrow money to invest the interest charged on that money can be used as an expense You do need to keep it seperate. reviously i had a line of credit that was used to buy shares and I claimed that interest. Also if you ever use margin that interest is also an expense.
ZouZS3 wrote:
You have 1k shares of xebec, you own a personal use condo financed with borrowed money. At this point, direct use of the borrowed money was to acquire the condo. You choose to sell the 1k shares and use the proceeds from the sale of the shares for any purpose, including paying down the money used to buy the condo. Then, you obtain additional borrowed money to buy another 1000 shares. At this point, the additional borrowed money is directly used to buy 1k shares. Now, you can deduct the interests you are paying on your mortgage. Anyone know about this?