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

To: Spots who wrote (1000)4/12/1998 2:39:00 PM
From: marc chatman  Read Replies (1) | Respond to of 5810
 
Spots, thank you (and also Brendan) for the response. I have a follow up question regarding Form 4952 if you know the answer.

Line 4a of Form 4952, and the instructions, seem to call for all income from interest and dividends. This would seem to include interest from bank accounts as well as "dividends" on money market funds (e.g., the fidelity mm fund linked to my brokerage account). Is this correct or is my reading too literal? I would have assumed that the interest and dividends must come from investment property, but perhaps "investment property" includes bank accounts and money market funds.

Thanks again for your help.



To: Spots who wrote (1000)4/12/1998 4:35:00 PM
From: Dell-icious  Read Replies (2) | Respond to of 5810
 
Form 4952 says that you can deduct margin interest to the
extent of investment income (which includes "interest" +
dividends + capital gains). What "interest" are they talking
about here? Does any credit interest that my brokerage gives
me for funds in the brokerage account count in this "interest"?
How about interest earned from cash in bank savings accounts?

Thanks.


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