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Bill, Financial Advisor
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Is CD Loan interest incured tax-deductable

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Is CD Loan interest incured tax-deductable?

If you borrowed money to invest in a CD then you can deduct the interest up to the amount of income on the CD as an investment interest expense. This would be deducted on line 14 on Schedule A as an investment interest expense.

http://www.irs.gov/pub/irs-pdf/f1040sa.pdf

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