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Interest expenses related to funds borrowed for down payment at a townhouse
Hi,
I signed a purchase agreement to buy a townhouse that will be closed in 2023. However, in order to pay the down payment, I borrowed the funds from friends, and I agreed to pay interest on an annual basis. The townhouse is an investment property that I intend to rent it out after closing. May I ask can I claim interest expenses in 2021 although the townhouse will be closed in 2023?
‎April 18, 2022
9:09 AM