If I do not itemize (and I am not an investment pro), is there any way to deduct margin interest paid?
Mel
If I do not itemize (and I am not an investment pro), is there any way to deduct margin interest paid?
Mel
Answered in the unmoderated group.
The only thing I'm aware of is that if you paid out dividends while holding a position short, which I think is a component of margin interest, and held the position for 45 days or less, then you add the dividends paid out to your cost basis -- thereby reducing your capital gain. See
WHY would you refer anyone to the unmoderated group?
In all seriousness, the last time I checked the majority of the people who frequent that group are NUTS! They make (or used to - I haven't visited there in at least 2 years because of the all the "static) make so much noise any raise so many invalid arguments, that have been shot down by the courts on many, MANY occasions, that I don't know how a nonprofessional would know how to sift out the chaff.
I do agree that the frequenters of the unmoderated group are entitled to voice their opinions and positions. Its just that for the unknowledgeable it may not be possible to differentiate the accurate from the frivolous.
Gene E. Utterback, EA, RFC, ABA
I didn't read that as a referral but as a simple statement of fact. This question HAS already been asked and answered in the other group.
Don EA in Upstate NY
How could it be anything other than a referral? If someone reads that and wants to know the answer, he'll feel compelled to go to the unmoderated group to find the answer.
___ Stu
I think it was directed at the OP, not the group. He presumably posted in both groups, and Stussy already answered him in the other group, so he didn't feel like repeating himself.
Precisely. The question was submitted to both groups -- and answered first in the unmoderated one.
I don't think that was Stussy's purpose. How hard it is to cut and paste?
Answered THUSLY in the unmoderated group.
No. Itemeized deduction only.
It's ok to post to mutiple groups, of course. But it is not normally acceptable to cross post a single article to MTM and another group. ___ Stu
What in the world does that have to do with anything? If you have nothing useful to add, don't bother the rest of us with watching your jaw wag.
___ Stu
So you thought it would be appropriate for those who don't participate in the unmoderated group to have to be subjected to your useless rant?
___ Stu
I think he was trying to save people from wasting time answering someone who already got his answer.
Instead, we wasted our time on this.
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