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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Ira Player who wrote (2374)	11/10/1999 11:21:00 AM
From: crh02	Read Replies (2) \| Respond to of 5810

From the novice section... A CPA recently told me that, for Federal Tax purposes, "margin interest expense" can not be written-off against stock market gains but rather can ONLY serve as a contra to dividend income. Is this so? Thanks for any comments, c. r. hunt

To: Ira Player who wrote (2374)	11/10/1999 2:05:00 PM
From: Kaye Thomas	Read Replies (1) \| Respond to of 5810

I'd love to get into this but time is my master. In the way of telling Spots still more that he doesn't want to know, I'll point out that there's a wealth of complexity concealed under the requirement that the options not be deep in the money. It's a complicated rule, with exceptions, and exceptions to the exceptions. Also, even if you deal only with qualified covered calls, you get hit with a more limited version of the straddle rules . . . Kaye Thomas, author Fairmark Press Tax Guide for Investors fairmark.com