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  1. Taxation
    Assuming I had a joint line of credit account, which was only used by me and not the other account holder. And those funds from the account were placed in a brokerage account under my name only to invest. Would I be able to deduct 100% of the interest from the line of credit on my tax returns...
  2. Taxation
    Mother M is retired, sold her primary residence, and invested the proceeds in a JTWROS with her adult daughter D. M is taking all the income from the investments, and paying all the taxes. Over $200,000 is invested in US$ securities, such as S&P index funds. Even though this is all through a...
  3. Taxation
    I know there's a thread on here about joint accounts but I couldn't find an answer to my question. I know someone who works for the "govt", Bill. Bill won't tell me what he does exactly but he works in some sort of auditing capacity I'm guessing. So let's say Alison receives cash from...
  4. Taxation
    My wife and I (early 30s) dipped our toes into the SM waters for the first time in 2010. As a result, this tax season is our first time taking advantage of the interest expense deduction. As I gleaned from other threads, in situations like this either my wife or I could claim the interest...
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