Explanation for the disallowances


Ellen borrowed $50,000 from her Parents for a down payment on the purchase of a new home. She paid interest of $3,200 in 2009, $0 in 2010, and $9000 in 2011. The IRS disallowed the deduction. Can you offer any explanation for the disallowances?

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Accounting Basics: Explanation for the disallowances
Reference No:- TGS059899

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