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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: David R. Colby who wrote (1238)	11/26/2000 10:35:34 AM
From: Dan Duchardt	Read Replies (1) \| Respond to of 1383

David, Can anyone tell me how margin interest is deducted if you do not have trading status? You can deduct investment interest on line 13 of Schedule A, at least up to the amount of investment income, usually meaning dividends. There is a provision for electing to treat capital gains as investment income, so if your interst expense is higher than dividends and interest income you might want to do that. You should check Form 4952 with instructions for a more detailed answer, and to see if you need to file this form. 2000 version now available at irs.gov Dan