Line Of Credit Vs Credit Card Can Anyone Please Explain How The IRS Views Tax Deductions Of Finance Charges From Charge Cards Vs Credit Line?

Can anyone please explain how the IRS views tax deductions of Finance charges from charge cards vs credit Line? - line of credit vs credit card

With a credit line to receive the stated interest paid in 1099 by the Bank. Not get the credit card company, but must be paid for. My accountant does not believe that interest rates for credit card companies is tax deductible. I think both companies are viable forms of credit extension is reasonable and legal advice, financial or commodity. Can you additional information on the interest expenses in the amount of funding in the short term. Thank you. Related Companies.