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Mar 02, 2017 3:45 pm
Is interest paid on the mortgage of house designated as your principal residence added to the ACB of the residence when sold? The mortgage interest was not expensed for tax purposes but certainly added to the cost of the house over the years.
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Mar 02, 2017 3:45 pm
No, interest paid on a mortgage for a primary residence is not added to the cost basis and it is not tax deductible.