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

To: andrew wu who wrote (952)	4/5/1998 11:07:00 PM
From: Richard Nehrboss	Respond to of 5810

I don't have 4952 in front of me, but I've used it. It allows you to declare some of your capital gain income as ordinary income and thereby deduct your margin interest. You decide how much of your capital gain to include as ordinary income. Try it both ways... The way I did it was to take Margin Interest - dividend Income.. The result was the amount of capital gain I wanted to include as ordinary income (taxed at higher rate, but not really sense you will offset it by your margin interest deduction) Richard