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To: HKBrittain who wrote (3522)3/24/1998 1:14:00 AM
From: jtsaratoga  Read Replies (4) | Respond to of 12617
 
Question on margin interest calculation

Suppose margin interest rate is 8% and I have $10k cash balance. If I buy $20k in stock XYZ in the morning and sell it before close. What is the margin interest calculated generally? Is it 0 or (10000*8%)/365?

Any help would be greatly appreciated.

JT



To: HKBrittain who wrote (3522)3/24/1998 9:02:00 AM
From: Ada Marie  Respond to of 12617
 
Kim... thanks for the response. The thread you recommended is very useful. I have read many of the previous posts and they are helpful as well. My CPA is taking a very conservative approach on trading and I want to make sure his approach isn't too conservative. Perhaps I am looking for something more definitive which is asking too much when dealing with tax law.


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