I had a margin tradimg account where stocks were liquidated due to a margin call. The transaction itself was a gain, but the full amount was used to cover the call. Is this considered a capital gain or loss from Tax reporting perspective?
The gain/loss would be based on the stock transaction, not the amount that the brokerage took after. However, you can deduct any margin interest charged as an expense.
Singing101
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mike-pettit99
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