Hi
So lets say you break a fixed term loan to alter the interest rate.
This cost you $5000 which is added to the original loan.
So what is deductible ?
The entire $5000 or just the extra interest on it?
Thanks
Richard
P.S. Who can give me a simple explanation of what a "cash basis person" is if the LTC has the loan?
So lets say you break a fixed term loan to alter the interest rate.
This cost you $5000 which is added to the original loan.
So what is deductible ?
The entire $5000 or just the extra interest on it?
Thanks
Richard
P.S. Who can give me a simple explanation of what a "cash basis person" is if the LTC has the loan?
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