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Deductions & credits
@mkgaras1 wrote:
is margin interest I paid to my broker deductible in full ?
You can deduct interest expense only up to the amount of your net investment income. Your net investment income is your investment income minus investment expenses (other than interest expense). Examples of investment expenses include safe deposit box fees, investment advisory fees, and the cost of investment publications, such as magazine subscriptions
Interest expense is deductible on Schedule A as an itemized deduction.
March 24, 2020
10:06 AM