Posts tagged margin
What do you mean by dual currency deposit and margin trading?
Jul 15th
This terms are taken from indian banking scenario. Now a days these words are frequently used
Can capital gain from stocks offset loss of interest paid on margin balance to make filer eligible for EIC?
May 1st
INTEREST PAID ON MARGIN BALANCE =23000
CAPITAL GAIN FROM STOCKS =13000
LOSS =10000
WILL FILER QUALIFY FOR EIC?
THANKS FOR REPLIES.
JOINT FILER WITH 2 MINOR CHILDREN.
BELOW IS THE SELF PREPARED WORKSHEET.
RETURN NOT SUBMITTED YET. INTEREST PAID ON MARGIN BALANCE IS $23000 NOT INCLUDED IN WORKSHEET.
BEING NOT SURE, EIC NOT CLAIMED BECAUSE OF CAPITAL GAIN OF $13715
IN THIS SITUATION DO I QUALIFY FOR EIC IN ANY WAY?
business income =16239
capital gain =13715
total income =32384
one-half of self emp. tax =1148
AGI =31236
STANDARD DED. APPLIED =10700
EXCEPTIONS CLAIMED =17000
TAXABLE INCOME =3536
TAX =244
SELF EMP. TAX SCH.SE =2295
ADDTL. CHILD TAX CR.8812 =501
TAX I OWE =1794
