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Oskaloosa, Iowa 52577 | If a person borrows money to buy out his wife marital interest, The interest expense on the loan is not tax-deductible. However, if the wife takes the title to the assets And the husband then buys the assets from the wife, the transaction becomes a purchase of business assets, and any loan very much interest would be deductible interest. If the attorneys are not familiar with that concept, then a good heavy hitting tax oriented CPA needs to be brought into the picture. | |
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Divorce and the farm.
