My question is : Canadian-specific
Hi David - I signed up for a condo under construction
and paid 10% down on my LOC this year. The possession
date is mid-2006. Will I be able to deduct the
interest charged on my LOC this year or do I have to
wait until next year? Since the funds from LOC were
taken to pay for the revenue property, I am assuming
the interest is deductible. Your answers to these
e-mails are very helpful.
Thanks
