Accountant-Man
Level 13
09-23-2023
05:15 PM
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Bad bookkeeping for the p-ship. She will only be able to get the money back from the p-ship upon liquidation or sale.
It sounds like investment interest expense on her 1040, deductible on her Sch A only to the extent of investment income and then if she even itemizes.
** I'm still a champion... of the world! Even without The Lounge.