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#331360 - 03/09/05 09:50 PM Certificate of Deposit for Q/I
Anonymous
Unregistered

Could a 2.5 million dollar Certificate of Deposit to a City (municipality) in a Low-income census tract be considered for Investment credit?

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CRA
#331361 - 03/09/05 11:18 PM Re: Certificate of Deposit for Q/I
CRAatBOK Offline

Power Poster
Joined: Mar 2004
Posts: 6,172
Further South than I wanna be.
Not unless you are getting it from them. It doesn't work in reverse. I assume you are paying a market rate on the CD so why would it be an investment for you?
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Life is not the way it's supposed to be. It's the way it is. The way you cope with it is what makes the difference.

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#331362 - 03/10/05 12:24 AM Re: Certificate of Deposit for Q/I
HRH Dawnie Offline
Power Poster
HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
But nifty try

For any investment you have to pony up the dough. I've seen folks try to take CD credit for investing their trust clients funds in what would otherwise be CD projects But if it's not your money, it's not an investment.
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Dawn Coursey VP/CRA Queen

CRA Rating is in...Oh who cares...I'm home with the baby.

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