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Get your taxes done using TurboTax
The current facts are limited and the interest expense can be:
- business interest expense reflected on Sch E
- passive activity interest expense
- investment interest expense
That's why I am recommending a one on one dialog where it is much easier to talk through the facts and determine the correct reporting of the interest expense. All three will have different ramifications on your tax return.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎November 3, 2022
2:57 PM