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On another note, Andrew borrowed $10,000 from TD and invested in ABC Corporation stocks. He paid $400 interest on this loan. Andrew did not receive
On another note, Andrew borrowed $10,000 from TD and invested in ABC Corporation stocks. He paid $400 interest on this loan. Andrew did not receive any dividends on his stocks from ABC Corporation. His only hope is to sell the stocks when the price goes up with capital gains. Can Andrew claim the $400 as a deductible interest expense when he files his tax return?
a. No
b. Yes
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