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Old 05-17-2011, 03:23 PM
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Join Date: May 2011
Posts: 2
Angry Construction interest

I have a client who built a new building and during construction no loan interest was wroteoff thru the S-Corp. The interest was paid monthly to the bank and deducted from the loan amount proceeds. The deduction would help the tax client save money on is personal taxes for the past two years. No s-corp returns were filed during construction.

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