- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
It depends. If the investments generate taxable income, then yes, the margin interest you paid in your brokerage account is an allowable miscellaneous itemized deduction (for the amount above 2% of your AGI), which is taken on Schedule A.
If the debit balance is used to purchase investments that generate tax-exempt income, then no, you cannot deduct the margin interest charged.
‎June 4, 2019
5:54 PM