Asked by Matthew R., San Francisco, CA • Fri Jun 6, 2008
Has anyone ever heard of a business owner borrowing money from his or her business to purchase a home -- as opposed to getting a conventional mortgage through a bank? If I do this, could I still receive a mortgage interest deduction on my personal taxes? Would my company (pet products; nothing to do with real estate) have to issue me a 1098 statement at the end of the year?
I'm also interested in whether there are ethical issues involved here. Thanks for your opinions!
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