Hey All,
If simple enough to explain, what is the formula for calculating the interest tax deduction on a loan annually.
Using an example of a 100k investment loan on IO over 30 years at 5% interest and say your on a middle tier tax bracket at 37 cents.
On my calculation the interest paid is $5000 annually.
So would the tax deduction be 5000*37% = $1850
Or am I way off and need to consider other variables?
Calculating Loan Interest Deduction
If simple enough to explain, what is the formula for calculating the interest tax deduction on a loan annually.
Using an example of a 100k investment loan on IO over 30 years at 5% interest and say your on a middle tier tax bracket at 37 cents.
On my calculation the interest paid is $5000 annually.
So would the tax deduction be 5000*37% = $1850
Or am I way off and need to consider other variables?
0 commentaires:
Enregistrer un commentaire