Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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Interest we pay on margin loans is tax-deductible if the loan is used to buy (taxable) securities but not if it's taken for personal use, i.e., a cash advance. Is there a way to calculate from brokerage statements the amount of margin interest paid for each category? It's not as simple as a ratio of one to the other, since investment income each month repays some of the indebtedness, as do any deposits to the account, and I don't know how those amounts are apportioned. Also, interest is calculated on a daily basis, starting the day the loan is taken, so it's not always for a full month.
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