Question 11053 — income tax

Summary

Mr. Michel Delpon draws the attention of the Minister of the Economy and Finance to the treatment of interest on an advance granted on a life insurance contract in terms of property income. Indeed, article L. 132-21 of the insurance code provides the option for the insurer to grant an advance to the contractor, an advance defined by the Official Bulletin of Public Finances-Taxes as a loan (BOI-RPPM-RCM-20-10-20-50, § 130). Also, he asks him whether the taxpayer who uses an advance to acquire a given building for bare rental can deduct from his property income the interest on the advance granted according to the principles of article 31 of the general tax code (which authorizes taxpayers to deduct from their net property income interest on debts contracted for conservation, acquisition, (re)construction, expansion, repair or improvement of buildings rented) and, if this is the case, under what conditions.

Machine translation from French. The official text remains authoritative.

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