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Margin Interest -Tax Deductible ?

Kinsailor · 2016-10-31 19:08:07

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…

31-10-2016 07:08PM

#1

Kinsailor

Registered Users, Registered Users 2 Posts: 63 ✭✭

Join Date: November 2012

Posts: 32

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.

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Comments

#2 01-11-2016 02:27PM

Strettie11

Registered Users, Registered Users 2 Posts: 240 ✭✭

Join Date: April 2016

Posts: 237

Expenses allowed are broker fees & commissions.

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

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#3 19-01-2017 09:24PM

Kinsailor

Registered Users, Registered Users 2 Posts: 63 ✭✭

Join Date: November 2012

Posts: 32

Thank you Strettie for the very informative response

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