Would Investment interest on stock margin account go on schedule A or B? Thank you!
2007-07-17 07:53:26 · 3 answers · asked by angel_rat_83 1 in Business & Finance ➔ Taxes ➔ United States
Schedule A is the schedule used if you have itemized deductions.
Schedule B is the schedule used if you are reporting interest and dividends earned.
Therefore, you would need to report your earnings through investment interest on Schedule B. One more point (and not to confuse you but to add knowledge), any investment expenses you have (brokerage annual fee for example) will get reported on Schedule A as an itemized deduction.
Good luck and check with your friendly accountant/CPA for more guidance.
2007-07-17 09:10:41 · answer #1 · answered by NoNickname 2 · 0⤊ 0⤋
If you are referring to interest paid on a margin loan, it goes on Schedule A. If you are referring to interest earned on investments, it goes on Schedule B.
2007-07-17 11:11:00 · answer #2 · answered by JaretR72 2 · 0⤊ 0⤋
Interest that you receive would go on schedule B.
2007-07-17 07:57:39 · answer #3 · answered by Judy 7 · 0⤊ 0⤋