Question

Where to report Business loan interest paid for investment in partnership

Forum|Forum|2 years ago
March 24, 2024
1 reply
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Where do I enter interest expense for a loan I took out to invest in a partnership?

TurboTax Home & Biz Windows

That would be Investment Interest. If you have investment interest expense, you can deduct it up to the amount of your net investment income. You must itemize your deductions on Schedule A. To enter in TurboTax:

Go to "Deductions & Credits"
Scroll down to "Retirement and Investments" and click on the down arrow to expand
Locate "Investment Interest Expenses" and click on Start
Indicate Yes
Enter a description and the amount of your Investment Interest Expense

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