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Margin Interest -Tax Deductible ?

  • 31-10-2016 7:08pm
    #1
    Registered Users, Registered Users 2 Posts: 63 ✭✭


    I am a PAYE Taxpayer who also does some part time trading on Schwab.Com . On occasions I use margin trading. Can I ask forum participants for advice on what expenses (including margin interest) are deductible against either deposit interest income or capital gains ( or can be used to calculate losses). Can the expenses be applied against either form of gain ?
    Thank You.


Comments

  • Registered Users, Registered Users 2 Posts: 240 ✭✭Strettie11


    Expenses allowed are broker fees & commissions.

    Margin interest is not an allowable expense against either interest earned or gain on share


  • Registered Users, Registered Users 2 Posts: 63 ✭✭Kinsailor


    Thank you Strettie for the very informative response


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