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A plan participant takes a 401(k) loan to purchase a house. When is the interest deductible? The participant, a key employee, secures the loan with
A plan participant takes a 401(k) loan to purchase a house. When is the interest deductible?
| The participant, a key employee, secures the loan with the primary residence purchased with the loan. |
| Home mortgage interest is always deductible. |
| The participant, a rank-and-file employee, secures the loan with both the primary residence purchased with the loan and elective deferrals. |
| The participant, a rank-and-file employee, secures the loan only with the primary residence purchased with the loan. |
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Financial Statement Analysis
Authors: Martin S. Fridson, Fernando Alvarez
5th Edition
1119457149, 978-1119457145
