Interest on Residential Property Debt Not Deductible as Investment Interest

The Tax Court held that taxpayers who purchased a residence with the intention to treat part of the tract as investment property could not deduct any of the interest on indebtedness as investment interest.

Source: http://feedproxy.google.com/~r/AICPA_TaxAdvisor/~3/tDg7MBzD0RI/clinic_may2013-story-08.aspx

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