Considering that I'm taking a tax class now... this is HILLARIOUS!

enjoy:

Oh, do I hate you IRC.

I was reading "Taxation of Individual Income"  and I came across a hypothetical which reads:

"Same facts as Example 1, except W borrows an additional $130,000 & uses that amount to purchase a new Mercedes Benz convertible.  $100,000 of the $130,000 borrowing will be considered home equity indebtedness; the other $30,000 will be personal indebtedness for which no interest deduction is allowed."

Anyways, I wrote in the margins of my book "AT-A-GIRL!!! Buy that SL!!"

That's the most exciting thing I've read in all of my law books... God bless tax attorneys b/c sure as hell I ain't gonna do it!