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Loans & Lending Practices MCQs

Why is interest paid by the borrower deductible on their tax return?

Because interest paid represents the cost of having a loan and is an expense to the borrower

Because it is revenue to the lender and should be income as well to the borrower

Because it is unfair for the borrower to have this deduction

Because the SEC requires it

Answer

Correct Answer: Because interest paid represents the cost of having a loan and is an expense to the borrower

Explanation:

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