Get your taxes done using TurboTax

Please go to the "deductions & credits" tab, then select "investment interest expenses" under the "retirement and investments" section.  You enter your investment interest here.  If it is limited because you don't have enough investment income in your return that is already taxed at ordinary income rates, and you have either qualified dividends or long-term capital gains, you'll then see a screen in this section (3 or 4 screens after entering your investment interest expense) that is titled "make a capital gain election."  This is where you indicate how much of your qualified dividends or long-term capital gain income you'd like to elect to be taxed as investment income at ordinary income tax rates.  Hope this helps.

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