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Pastimes : G&K Investing for Curmudgeons

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To: Mike Buckley who wrote (13499)	4/16/2001 3:09:54 AM
From: Dr. Id	Read Replies (1) of 22706

I believe that you can only deduct margin interest against other interest payments and dividend payments. Id's tax advice is as good as his investment advice. --Mike Buckley Ahem... Message 15660308 My good buddy Jacob Snyder wrote: re: tax question: Get Turbotax. It walks you through the numbers. You can: 1. deduct margin interest only up to the max of your dividend + interest income, or 2. move cap gains (LT or SH) into "regular income" catagory, up to the total of your margin expense. My "advice" was the same as point number 1. Note that you can't do both 1 and 2. So, if you have any income from dividends or interest, point number 2 would not be a smart move (particularly if one has any long term capital gains). Dr.Id@taxadviceisntsobad.pov

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