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Can I Deduct Interest For Private Money Lender

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  • Sunday, April 24, 2005 @ 09:34 AM EDT
  • 2 Comments
I got a Private loan for my rental property. Can I deduct the interest cost on Line 13 , other interest, in Sch E?
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  • NewKidinTown2
    NewKidinTown224th April, 2005
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    Absolutely.

  • NewKidinTown2
    NewKidinTown225th April, 2005
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    Profit from property flips is taxed as ordinary income. This applies to all property flips in whatever condition they are in.

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