355719
I did not receive any sort of 1099 or "official" tax document for this, only a letter from Stifel stating the amount of interest paid.
More info:
"The SPA Account is a Line of Credit secured by your investments or marketable securities." "The Stifel Pledged Asset, or SPA Loan Account, keeps your assets in place while providing you access to the equity within those assets as cash." "The SPA Account is a demand loan using the assets in the account as collateral."
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If it's for interest you received, treat it as you would a 1099-INT:
1. Click Federal on the left-hand side menu.
2. Click Income across the top.
3. Scroll down to Interest and Dividends and click Show more.
4. Click Start or Revisit by Interest on 1099-INT.
If it's for interest you paid, you can't deduct it UNLESS it's secured by your personal residence. In that case, it's treated as mortgage interest:
1. Click Federal on the left-hand side menu.
2. Click Deductions & Credits across the top.
3. Scroll down to Your Home and click Show more.
4. Click Start or Revisit by Mortgage Interest, Refinancing, and Insurance (Form 1098).
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