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Strategies & Market Trends : MARGIN - Do's and Don'ts -- Ignore unavailable to you. Want to Upgrade?

To: Dave Riches who wrote (7)7/14/1998 10:11:00 PM
From: Bill johnson1  Respond to of 35
 
I do all of my research on line, Waterhouse securities has a prety broad array, but i mostly use Yahoo, which listsnews on the stock. AS to limits on deductions, I don't know the anwser. I use turbo tax and it does all of the calculations for me, but I know I get about 1/4 of my investment back in the form of deductions. so $1000 in margin interest, save $280 off my tax bill approx. I trade online to, so trading cost are actually subtracted dirsctly from profits.
bill



To: Dave Riches who wrote (7)7/22/1998 11:04:00 AM
From: Greg Jung  Respond to of 35
 
"Investment expenses" is a particular tax form (I forget now which number). You do need + profits to deduct against, otherwise you classify them as "not qualified" and they carry into the next year.
There isn't a lot of specific instructions about this aspect of the use of the form (4852?).
It goes as an entry into schedule A I think.

Greg


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