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Thanks.

It looks I should use Itemized deduction if the margin loan interest is high enough to make this greater than the standard deduction, maybe by bringing forward future planned donations to 2021.
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Btw, what is the standard deduction for a Single person? Is it 12,550, or 14,250 for persons older than 65?

I used $14,250 for estimating 2021 Federal income taxes.
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If I treat this expense as a negative interest and deduct from the sum of income and dividend, then using standard deduction I can see the reduction of both AGI and taxable income. Is this permissible?

No.

--Peter
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No. of Recommendations: 0
Thanks.

It looks I should use Itemized deduction if the margin loan interest is high enough to make this greater than the standard deduction, maybe by bringing forward future planned donations to 2021.
Print the post Back To Top