I just got my Schwab 1099 forms so went to file my investment expense deduction and the numbers are WAY off from what they should be. I have the following:
1) $4K of interest
2) $3K of net gains ($10K ST cap gains offset by $7K of LT cap losses)
3) A total of what I think is $23K in ordinary dividends, etc. that should count in this number, but there are so many different types this is where things get confusing:
-$10K ordinary dividends
-$1K in unrecaptured 1250 gains
-$2K in section 897 gains
-$9K in section 199A dividends
-$2K in substitute payments in lieu of dividends
Now, I'm sure not all these are included in the investment expense deduction, but my total deduction only came out to $19K so it seems only a couple of these were included. Can anyone provided guidance as I can't find anything online to determine which of these types should be included in my deduction?
Thanks,
Mike
