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Author: pbd100   😊 😞
Number: of 75 
Subject: Are margin costs deductible?
Date: 07/02/2024 5:06 PM
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I use TurboTax and have considerable interest costs because of the amount of margin I'm using with Interactive Brokers. I should think that it's deductible and wonder if anybody has experience with this.

Phil
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Author: onepoorguy 🐝  😊 😞
Number: of 75 
Subject: Re: Are margin costs deductible?
Date: 07/02/2024 5:34 PM
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Does this work for you?

https://www.schwab.com/learn/story/investment-expe...

It's been a long time since I had margin interest, so I don't now recall what I did. I think it was this (though my first thought was it would go to basis of the investment).

But this appears to be current protocol.
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Author: pbd100   😊 😞
Number: of 75 
Subject: Re: Are margin costs deductible?
Date: 07/04/2024 1:04 PM
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Thanks so much!! I found that margin interest is mentioned under "Investment Interest Expenses" in IRS Publ 550. It is reported on Schedule A (Form 1040) line 9.
Phil
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