How do I fully deduct Investment Interest Expense?

Forum|Forum|6 years ago
February 29, 2020
1 reply
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In prior years I have been able to fully deduct investment interest. All of the interest is for investments and the amount of interest paid is less than my dividend income. I don't see the place where I can elect to deduct the full amount of interest, instead of rolling it forward into future years. Please let me know.

TurboTax Home & Biz Windows

macuser_22

Expense? Do you mean the financial institution management fees and other fees charged? Investment *interest* reported on a 1099-INT is always reportable and taxable.

The TCJA (Tax Cuts and Jobs Act) eliminated ALL miscellaneous deductions for 2018-2025. Investment fees are no longer a itemized miscellaneous deduction.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

gianniAuthor

Investment interest paid (aka Margin interest paid). Not a fee, not an "Investment Expense"

Should be deductible up to the amount of dividends and capital gains earned.

Cant find out in TTax where to adjust Form 4952 so that all investment interest expense is claimed.

macuser_22

Search topics for "investment interest" or under Deductions & Credits -> Retirement and Investments -> Investment Interest Expenses.

It is an Schedule A itemized deduction.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**