Deductibility of margin income was in context of requesting a deduction for investment expenses and not trust related fiduciary expenses- in this case, the expense could be itemized for both IDGT (but SD is over 20k and this is a disadvantage) and a NGT(SD is less than 1k- so mostly ab advantage), correct?
lastly, I read that one could recategorize qualified dividends as regular dividends so they can offset margin interest: can only a part of the qualified dividends be recategorized, to the extent margin loan deduction use could be optimized? How would one make such as request on the tax forms and get the deduction.
thank you!
