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How is liability interest defined as tax deductible?

April 26, 2017deductible defined liability tax

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How is liability interest defined as tax deductible?

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• Go to the Liabilities category – Detailed tab. • Select the applicable liability, and then click Asset Links. • Select an asset, and then click Edit to open the Asset & Liability Link dialog box. • Under General Information, select the Interest payments are tax deductible check box.