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TSP Loan-Interest $

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    #1

    TSP Loan-Interest $

    Client took out a TSP loan to buy out a partner from a partnership owned by his wife and this other person.

    Can the interest be claimed as investment interest on his personal return?

    Thanks,


    Taxman VA
    Tags: None
    #2
    If the partnership is a business, and the loan can be traced to the purchase of the business, then I would deduct the interest as business interest.

    Comment

      #3
      I don't think so. See IRC 72(p)(3).

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