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: Jason Rooks who wrote (961)	4/7/1998 5:03:00 AM
From: andrew wu	Read Replies (1) of 5810

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??? Jason, I posted similar question (see #952). Based on what I got from Tubor Tax, I do not think that I could deduct my interest against my capital gains at all. I could only deduct my interest expense up-to the amount of my interest income, which is only 1/5 of interest expenses (again, see #952) -andrew

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