Search results

This is one of those funny and complicated gray areas. Because deductibility is determined by intent, when your intent changes we often have to track down the date that intent was changed and change our method of claiming at that point. For example, if a person built a house with the intent of...

If the property will be used as a rental property, then the interest will be deductible. If the property will be sold upon completion, meaning that it was purchased with a view to sell, then the interest will be capitalized and when the property is sold, the profit or loss on sale will be dealt...