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windough
Jul 28th, 2007, 11:02 PM
I would like to buy stocks on Margin. I already have a Margin Account on E*Trade.

I was told that Margin interest is tax deductable. Is there anyone with info on Margin interest tax deductability?


Thanks,
pitz
Jul 29th, 2007, 12:30 AM
I would like to buy stocks on Margin. I already have a Margin Account on E*Trade.

I was told that Margin interest is tax deductable. Is there anyone with info on Margin interest tax deductability?


Margin interest can be tax deductible if the proceeds of a margin loan are used to buy taxable securities that have the potential of generating income or dividends.
smihaila
Aug 16th, 2007, 08:31 PM
I've heard there are also some special rules for Quebec, limitting the tax deductability amount of the interest that was paid for investment purposes to the investment income gained for that tax year. The difference can be carried over for the next tax years.
advantage21
Aug 17th, 2007, 12:43 AM
I would like to buy stocks on Margin. I already have a Margin Account on E*Trade.

I was told that Margin interest is tax deductable. Is there anyone with info on Margin interest tax deductability?


Thanks,
Google is your friend.

Line 221 (http://www.cra-arc.gc.ca/tax/individuals/topics/income-tax/return/completing/deductions/lines206-236/221/menu-e.html).