MCQs > Stocks & Investments > Loans & Lending Practices > Why can a borrower not deduct loan repayments from their income when calculating taxes?

Loans & Lending Practices MCQs

Why can a borrower not deduct loan repayments from their income when calculating taxes?

Answer

Correct Answer: Because they were not taxed on the proceeds of the loan, they can not deduct repayments either

Explanation:

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