One conceptual approach to determining whether interest should be deductible is to limit deductibility to situations where this interest paid is related to the production of income that is fully taxable in the taxation year in which it is earned. List two situations in which interest would not be deductible under this conceptual approach.

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The Answer of One conceptual approach to determining whether interest should be deductible is to limit deductibility to situations where this interest paid is related to the production of income that is fully taxable in the taxation year in which it is earned. List two situations in which interest would not be deductible under this conceptual approach.

One Conceptual Approach to Determining Whether Interest Should Be Deductible