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Are bank charges deductable wrt interest earned?

Posted 10 November 2014

I have a money market account and am charged a monthly fee. Can I deduct this from my gross interest?

TaxTim says:
10 November 2014 at 17:01

No unfortunately you cannot.

This entry was posted in Tax Q&A and tagged Deductions, Rental Income, Penalties. Bookmark the permalink.

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