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

To: Colin Cody who wrote (1864)	2/8/1999 8:36:00 PM
From: Jason Rooks	Read Replies (2) \| Respond to of 5810

I have $1000 in margin interest in 1998. I had a series of trades which resulted in a net loss (long and short term) for 1998. Is the margin interest deducted from the gains, which basically increases the net loss which is carried forward? And, must one itemize deductions (I do not) in order to deduct the margin interest? It seems that the margin interest should go the cost basis of the stocks purchased, at least, regardless if one itemizes or not. Is not margin interest an investment expense, just like a commission?