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Interest - Itemized Deduction

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  4. Is my margin interest from my brokerage account reported to the IRS ?

Is my margin interest from my brokerage account reported to the IRS ?

The IRS does not require brokerage firms to report margin interest on the form 1099-INT. Generally, the amount is reported on the statement you receive from your brokerage firm as margin interest paid on the non-reportable section of the Consolidated 1099.

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