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Foreign Loan Interest
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--Dave.
Jan 27, 1996, 3:00:00 AM1/27/96
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This situation was brought up concerning the purchase of a shopping
center. The financing was though an investment bank in Germany. The
question was since the interest payments would be going out of the
country, would they be deductible? I do not know of any code sections
that would eliminate the interest deduction on foreign capital. Has
anyone heard of any limits? Thanks.
center. The financing was though an investment bank in Germany. The
question was since the interest payments would be going out of the
country, would they be deductible? I do not know of any code sections
that would eliminate the interest deduction on foreign capital. Has
anyone heard of any limits? Thanks.
TomHealy CPA
Jan 29, 1996, 3:00:00 AM1/29/96
to
Dave asks:
<concerning the purchase of a shopping
center. The financing was though an investment bank in Germany. The
question was since the interest payments would be going out of the
country, would they be deductible?>
Yes. However, the deduction might be investment interest, or Schedule E
interest or business interest, depending on the circumstances. I suggest
you consult a tax advisor in your area.
Tom
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