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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 585
Experience:  10 years experience
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Customer Question

INTEREST RATES- I have a TD AMERITRADE ACCOUNT, & I'm planning to WITHDRAW 20K for 2 years, just to gain LONG_TERM much interest will I lose???
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.
If you have a margin account - TD Ameritrade might charge Margin interest rates.The current base rate is 7.75%.The actual rate might be slightly more or less depending on the balance in your account.With balance under $10,000 - the margin rate is the base rate plus 1.25%.Please be aware that interest you pay on margin account is normally deducted as investment interest on your tax return - so if you will be eligible to deduct - the actual cost could be less depending on your tax bracket.