Thank you Mike.
By making the election to use investment interest expense to cover net long-term capital gainst (LTCD) and qualified dividends (QD), is "disqualifying those amounts for the special rate that QD and LTCG get" not important because by making the deducting, there would be no amount to actually tax? So the election avoids Federal taxes and potentially the 3.8% surcharge if the gains are large enough? I believe NY would match Federal tax treatment, so there would be no NY State/Local Taxes due as well? Does this sound accurate to you?
