Has anyone taken large margin loan $150,000+ to pay capital gains taxes? I have a large tax I need to pay to IRS and wondering if this is a viable option. I'd have to pay 6.9% interest with fidelity for the loan but is there anything else I should consider #personalfinance #investments
That’s a steep margin loan interest. I use interactive brokers and pay around 1.5%
I looked into this today, they only give that rate for their Pro service which charges ~1% commission for almost all stock/etf trades. Do people just not trade in their IB Pro account and just hold for the good margin rate? Would suck to get a margin call and have them take an extra 1% of what they liquidate.
No they don’t charge 1% commission for stock trades. I don’t know what you are looking but you got it wrong
Robinhood gold gives you 2.5% margin. But they don’t support stock transfers from existing brokers. 🤷
You owe capital gains taxes means you sold stocks/house - pay the tax with those proceeds