TSP Loan-Interest $

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  • Taxman VA
    Junior Member
    • Jan 2012
    • 25
    #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
    • Bees Knees
      Senior Member
      • May 2005
      • 5456
      #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

        • Gary2
          Senior Member
          • Aug 2010
          • 2066
          #3
          I don't think so. See IRC 72(p)(3).

            Comment

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