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| No. This is not correct.
Edit add: If I have an LOC and sell 100,000bu of corn and use it to pay my note down in July to $0 and I have 1000 acres of growing crop out there also securing that LOC - pretty simple for the banker to advance back on it in Aug for me to buy a boat / IRA contribution/ etc. It's a very secure loan with lots of cushion. The debt is still business debt however. It is not consumer debt and it can be deducted.
Edited by reformedbanker 1/27/2024 06:15
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Save on operating interest or invest in mutual funds?
