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

To: Jason Rooks who wrote (1028)	4/15/1998 3:48:00 PM
From: CrazyRay	Respond to of 5810

My understanding is that you can carry forward margin interest to next years return even if you DO NOT itemize this year(i.e., you take standard deduction). The amount you can carry forward will however be reduced by the deduction you would have received had you itemized. There was a "Interest Expense Carryover" worksheet supplied with TurboTax that specified my 1998 margin interest carryover even though I took the Standard Deduction! This is the impression I got from TurboTax Ray S