Do you pay taxes on margin interest?

Excuse me, could you please clarify if one is required to pay taxes on margin interest? I've heard conflicting information and I'm trying to get a definitive answer. I understand that margin interest is essentially the cost of borrowing money to invest in securities, but does that mean it's taxable income? If so, how is it taxed? Do I need to report it separately on my tax return, or is it included in my overall taxable income? I appreciate any insight you can provide.