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INTEREST RATES- I have a TD AMERITRADE ACCOUNT, & I'm

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INTEREST RATES- I have a...
INTEREST RATES- I have a TD AMERITRADE ACCOUNT, & I'm planning to WITHDRAW 20K for 2 years, just to gain LONG_TERM savings...how much interest will I lose???
Submitted: 2 years ago.Category: Tax
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Answered in 7 minutes by:
7/22/2015
Tax Professional: Lev, Tax Advisor replied 2 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,150
Experience: Taxes, Immigration, Labor Relations
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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.
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