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 (960)	4/6/1998 10:16:00 PM
From: Jason Rooks	Read Replies (3) of 5810

Colin, I understand from earlier posts about margin interests being deductible on form 4952. Now my question is, although I think I know the answer, must I itemize all deductions in order to qualify for the investment interest deduction??? I do not own a home, so I have never thought about itemizing and have only taken the standard deduction. Regardless of whether I take the standard deduction or not, it seems to me that I should be able to deduct that investment interest expense incurred in 1997 from my capital gains realized in 1997. Wishful thinking???

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