Bond question

[tghoul]

Is the interest on the bond considered tax deductable?

[Number 6]

This has been covered a number of times, but my, non professional, understanding is, no. First of all the Bond is not deductible because it is not a "tax". Also, say you borrowed money to pay your income tax. Would the interest be deductible?

[SNOK]

I think the interest is deductible just like interest on a mortgage. The principle is, of course, not deductible.

[Number 6]

This has been covered many times, but, to my knowledge, the only way to make the interest on the Bond tax deductiable is to take out a home equity loan and use it to pay off the Bond. The Bond is not a mortgage.

[Peggy D]

This has been covered many times, but, to my knowledge, the only way to make the interest on the Bond tax deductiable is to take out a home equity loan and use it to pay off the Bond. The Bond is not a mortgage.

This is what my understanding was too. You can't claim the interest paid on the bond itself.