I have a client who took a loan on a piece of real estate out of which he operates a business, to pay estate taxes. The property and operating company, each Sub S corps, were assets of the aforementioned estate? Can the interest expense be taken on the company which incurred the loan...in this case, the real estate?
STEPHEN FRANCIOSA CPA
213 FORDHAM STREET
CITY ISLAND, NY 10464
TEL# 718-885-9191
FAX# 718-885-3131
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