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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks
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To: Sultan who wrote (504)4/24/2002 2:07:32 PM
From: Johnny Canuck  Read Replies (2) of 548
 
Thanks Sultan,

I think my broker managed to clear it up. As far as I can tell you claim the total margin interest for the year as a carrying charge on line 221 of the tax form as opposed to trying to attribute the portion of the margin interest that applies to a specific security for the duration of the trade. So it becomes a deduction against your income as opposed to an amount that is used to calculate your capital gain/loss on a specific trade.

That sure makes the calculation a bit easier.
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