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Financial Planning / Tax Strategies
|Subject: Re: interest deduction||Date: 11/4/1999 5:36 PM|
|Author: hghcpa||Number: 20517 of 124795|
. Can I deduct margin interest as mortgage interest
No - qualifed residence interest (mortgage interest) must be secured by the property subject to the mortgage.
BTW - Reading your post I also think that perhaps the "tracing rules" related to deductible investment interest will preclude you from claiming the margin interest as investment interest - since you did not use the proceeds to finance your investments.
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