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Under the 1986 tax law, interest payments on a refinanced

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Under the 1986 tax law, interest payments on a refinanced [#permalink]

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New post 27 Apr 2005, 09:10
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Under the 1986 tax law, interest payments on a refinanced business loan are deductible only if the amount of the loan does not exceed the value of the business, the cost of refinancing, and any additional amount borrowed against the business to pay for tax or legal expenses.

(A) any additional amount borrowed against the business to pay for tax or legal expenses
(B) borrowing any additional amount against the business for payment of tax or legal expenses
(C) also borrowing any additional amount against the business to pay for tax or legal expenses
(D) any additional payment of tax or legal expenses that were borrowed against the business
(E) any additional payment borrowed against the business for tax or legal expenses

Kudos [?]: 438 [0], given: 0

Current Student
User avatar
B
Joined: 29 Jan 2005
Posts: 5201

Kudos [?]: 438 [0], given: 0

 [#permalink]

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New post 29 Apr 2005, 03:15
OA is A

Kudos [?]: 438 [0], given: 0

Current Student
User avatar
B
Joined: 29 Jan 2005
Posts: 5201

Kudos [?]: 438 [0], given: 0

 [#permalink]

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New post 29 Apr 2005, 03:48
OA is A

Kudos [?]: 438 [0], given: 0

  [#permalink] 29 Apr 2005, 03:48
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Under the 1986 tax law, interest payments on a refinanced

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