Margin Interest is deductible as an Investment Interest Expense.
To input your Investment Interest Expense:
- Go to Federal Taxes
- Deductions & Credits
- Scroll to Retirement and Investments
- Select Investment Interest Expense
- Follow the interview.
Types of interest deductible as itemized deductions on Schedule A (Form 1040, Itemized Deductions) include:
- Investment interest (limited to your net investment income) and
- Qualified mortgage interest including points (if you're the buyer)
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