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  • youngfrauyok youngfrauyok Mar 8, 2014 8:52 AM Flag

    Margin Interest ?

     

    Is Margin interest tax deductible? Could any experts, answer please ?

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    • Yes it is--if you have capital gains. Other wise it is carried over to next year.

    • irs.gov can help you

      Sentiment: Buy

    • As others have stated, margin interest is tax deductible. I use HR Block tax software and it asks for “Investment Interest Expense”, which flows to Schedule-A, line 14 (for 2013). I assume TurboTax and the others are the same. But remember that your *total* Schedule-A deductions must be greater than your Standard Deduction for it to even matter.

      Others have also expressed opinions against using margin. I have learned (the hard way) that those negative opinions have merit. Margin is like afterburners on a fighter jet – you get a thrilling ride if you use them on the way up and really deep hole if you use them on the way down. I still use margin regularly – but much differently than in the past – and employ the following rules… (1) Think like a sniper – move in, take your shot and escape with a profit. (2) You better be damn sure you’re right. (3) If you’re not right, exit the position like your hair is on fire. Since I don’t have any hair, I exit like my pants are on fire. (4) Hold the position only as long as it’s moving your way. For me, that’s typically no more than a couple of days. I start #$%$ in my pants at about the 1-week point. A stalled position is also cause for exit. (5) Limit the margined positions to only one or two and watch ‘em like a hawk – particularly the open and close action.

      As always… your mileage may vary – and past performance is not a guarantee of future results – and my opinion + 25 cents is worth about 25 cents.

      Cheers.

    • Margin interest is investment expense therefore tax deductible. Are you shorting NQ? Don't do it again boy otherwise you will have more tax deductible and less cash in your bank account

 
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