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To: Joe Copia who wrote (4254)12/9/1997 6:37:00 PM
From: LastShadow  Read Replies (1) | Respond to of 120523
 
Interest on Margin Accounts:

Those costs are the same as the trading fees - taken off before to determine net profit or loss per transaction. The tough part is when you average up or down and need to allocate accordingly. Easiest way to do this had the pile of printouts to the tax accountant and write of his charges next year...

lastshadow



To: Joe Copia who wrote (4254)12/9/1997 10:57:00 PM
From: toothdock  Read Replies (2) | Respond to of 120523
 
Joe-Margin interest is still personal interest

And therefore, it cannot be deducted as can business interest or mortgage interest payments.

However, if you can qualify as a trader, then it would be a business expense, but you are then saddled with self employment taxes, etc.

trade with #profits

toothdock


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