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Pastimes : G&K Investing for Curmudgeons
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To: Dr. Id who wrote (13521)4/16/2001 11:20:00 AM
From: Mike Buckley  Read Replies (1) of 22706
 
Id,

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.

... Note that you can't do both 1 and 2.

Not true according to the Motley Fool Investment Tax Guide. In fact, on page 34 the authors provide an example of doing both. But hey, if it weren't for the bad advice you also give about using online payment schemes,
maybe I'd be dumb enough to give you more credibility than Roy Lewis, one of the authors and a tax specialist by profession who has never steered me wrong in the past.

--Mike Buckley
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