To reach this entry:
- Sign in to My
TurboTax.
- Next,
click the orange Take me to my return button
- From
within your return, click Federal Taxes
- Then, Deductions & Credits
- Scroll to the Retirement and Investments section
- You will find two expenses sections:
Investment Interest Expenses - If you borrow money to finance investments, the interest you pay is considered investment interest. If you have investment interest expense, you can deduct it up to the amount of your net investment income.
Other Investment Expenses - To qualify for this deduction, your investment and other miscellaneous expenses have to exceed 2% of your adjusted gross income (AGI).
If you need additional guidance, please comment back.
