The fresh new proceeds of one’s brand new financing were used to pay off the existing financing To avoid that it unfavorable cures, good taxpayer should consider taking out a couple home-equity financing and work out the newest election to the one to used in providers motives In the event that H spends all round tracing statutes, the eye expense on the $fifty,100000 financing was totally deductible just like the business notice with the his Plan C. The attention expenses…