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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 (964)4/7/1998 11:20:00 AM
From: Brendan W  Read Replies (2) | Respond to of 5810
 
You can deduct your margin interest ... you just have to re-class some of your capital gains as ordinary income with the form mentioned previously.
You wrote:
>>>>>>
Based on what I got from Tubor Tax, I do not think that I could
deduct my interest against my capital gains at all. I could
only deduct my interest expense up-to the amount of my interest income, which is only 1/5 of interest expenses (again, see #952)