Can anyone answer this for me.
Say I borrow $10000 for investing on which I pay interest.
In year 1 I make $2000 in an investment which I take out and spend declaring the income in the tax year (leaving $10000 still invested).
In year 2 I make a $2000 loss. I decide to close out the investment this leaves $8000 which goes back leaving $2000 outstanding on the original loan.
Can I continue claiming the interest on the $2000 as a deduction ??? and if so for how long ?
Thanks to anyone who can help on this.
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