Joint loan against commercial property

This discussion clarifies the tax treatment of a joint loan taken by a husband and wife for a commercial property. The husband can claim the full interest paid as a business expense deduction, even if the loan is joint and he pays the entire amount. The wife cannot claim a separate interest deduction if she isn't running a business from the property. While the property and loan may be in both names, the full interest deduction is available to the husband if he's solely paying and using it for his business.