USA Margin Interest Reporting

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Shawn

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Do brokerages report to the IRS what you paid in margin interest? In other words, can investment interest deducted on your tax returns be traced back/matched to a 1099?
 
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Werner Reisacher

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Yes, you will receive a 1099 INT and the corresponding information the IRS needs in form of 1099 DIV, 1099 B, K1s.
Total interest deducted cannot exceed the profits generated by the investments.
 
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