Wow! I didn't know about the "tracing rules". Thanks again, Opus 17. You guys are the best.
Yes, I can certainly trace it back to institution A as I am being charged a monthly interest which appear on my statements. Besides, I also have bank records of the money from institution A > bank > purchase of crypto at institution B.
One follow-up question though. I borrowed this margin loan in 2021 to purchase crypto. I still hold the crypto (didn't sell, no exchange, staking etc.). However, I failed to deduct or capture the interest on my taxes since 2021 as I didn't think this was allowed. Is there a way to go back or somehow capture all the lost interest deductions moving forward so I can recapture them when I sell towards any capital gains I may potentially have?
Thank you.
