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

To: Colin Cody who wrote (275)12/18/1997 5:56:00 AM
From: Richard Nehrboss  Read Replies (1) | Respond to of 5810
 
Colin,

I appreciate your feedback as well. Yes, I do not intend to use Sched C as a trader.

Does the 4952 Investment Interest Deduction Apply to a normal investor? It looks like you can treat a portion of capital gains as income (not taxed at preferential rates). Right?

Richard



To: Colin Cody who wrote (275)12/18/1997 8:32:00 AM
From: Box-By-The-Riviera™  Respond to of 5810
 
I thought he was addressing an issue under trader status.... which I've researched a little.... the other, I don't know anything about.

Joel



To: Colin Cody who wrote (275)12/18/1997 9:08:00 AM
From: RealMuLan  Read Replies (1) | Respond to of 5810
 
Colin: Correct me if I am wrong. I think as an ordinary INVESTOR, all the short-term capital gain are considered as ordinary income, thus, are taxed at ordinary income tax rate, which can be as high as 33% or 36% (I don't remember exactly which). Does that mean, if I choose, I can use all short-term capital gain to offset margin interest (investment interest)? Thanks so much for your time.
Good luck.


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