News for hackers. Stuff that matters.

A comment on Life at the Margin: How I got $25,000 in debt. Parent comment

Re:Life at the Margin: How I got $25,000 in debt by quickthrower2 on Wednesday August 02, 2023 @11:58PM (#36981199)
Not sure how US tax works but in Australia an individual can borrow to invest and deduct interest.
[ Parent | on HN ]
Re:Life at the Margin: How I got $25,000 in debt by nocoiner on Thursday August 03, 2023 @04:22AM (#36982895)
I believe from the facts that are known, he’s quite obviously not Australian, so alas, probably no deductibility for personal debt.
[ Parent | on HN ]
Re:Life at the Margin: How I got $25,000 in debt by sgerenser on Thursday August 03, 2023 @07:42AM (#36984411)
The U.S. also has an “investment interest expense” deduction[1]. Normally this is used with margin interest, but if any other type of loan (e.g. credit card advance) is taken out specifically to invest in securities, interest on said loan becomes deductible investment interest as well.

[1] https://www.irs.gov/pub/irs-pdf/p550.pdf

[ Parent | on HN ]