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Reply: 2.1.1.1.1.1.1 From: Dale Gatherum-Goss HI Actually, the answer to this one has more to do with the purpose of the borrowing. That is, if you can demonstrate that the LOC was taken out to finance IP's, then the whole fee will be deductible using the 5 year rule. Cheers Dale

Reply: 2.1.1 From: Dale Gatherum-Goss Hi Rolf! Agreed on all points. The issue in particular that I mentioned was about 6 years ago now when some of the finance companies were recommending two loans. The first was your home loan which all monies went into paying off. The second was for...

Reply: 2 From: Dale Gatherum-Goss Hi I am a CPA and I hope that my thoughts are helpful, although, it sound like you are getting too much advice from too many people who may, or may not, know the answers. Just because a friend tells you that they're doing something with their tax does not...