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Old 02-15-2011, 04:04 AM
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Deduct margin interest?

In 2010 I made about $50,000 in the stock market and paid about $2500 in margin interest. I know I can deduct the margin interest on Schedule A, but I don't file a Schedule A, because I don't own a house and have few medical expenses. Is there anywhere else I can deduct margin interest from my earnings or capital gains? It would seem to be logical that I could, since it literally lessens my profit. Thanks in advance -- Ken Glantz



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