Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (938)	4/5/1998 1:42:00 PM
From: farrark.	Read Replies (1) of 5810

I understand that Margin interest is deductible, but on what form, Is it added to cost basis of stock or what? Also, if you borrow money other than margin(Credit card, etc,) to buy stock, is this interest deductible as well, and where is it deductible, (what form) I'm new to stock market this year and pretty ignorant on IRS rules on stock. Also, do you list all trades, losses and gains, or do list the end result. Also is $3000 the max. loss you can report for one year and can all the rest be used in the following year to offset gains or are you limited to $3000per year/ Thanks

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