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To: John Dough who wrote (37405)	7/30/1999 11:15:00 AM
From: Feathered Propeller	Respond to of 152472

Mark: itemizing deductions is a function of having an amount of "qualifying" deductions to exceed the standard deduction...not how many types of qualifying deductions you have. but can you qualify for itemizing your taxes if you have only margin interest that qualifies? Regards, JCC

To: John Dough who wrote (37405)	7/30/1999 11:18:00 AM
From: Sommers	Respond to of 152472

My understanding is that margin interest in only deductible to the extent of your investment income (dividends/capital gains, etc.) If one is in a 36% tax bracket, investment income is what they're typically trying to avoid. And this is where these loans - using you're stocks as collateral - come in. You're shares are pledged in lieu of a cash down payment. The payment (100% interest) is fully deductible. Whereas margin interest wouldn't be (unless you have large amounts of investment income, with no losses to offset it). Sommers