Refinancing loan interest may be deductible to a partnership
A general law partnership is formed when two or more people go into business together. Partnerships are generally set up so that all partners are equally responsible for the management of the business, but each also has liability for the debts that business may incur.
Tax law also provides for the notion of a “tax law partnership” – which occurs when individuals are in receipt of income jointly – such as an investment property.
See the article below for more information.