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Is Interest on forgivable loan, that is used for investment, tax deductible?
My employer paid me a bonus structured as a 10 year forgivable loan. I am a W-2 employee. I have invested the loan/bonus into the stock market. Is the interest on the loan tax deductible under IRS publication 550 “investment interest and expenses”? If so, how much of that interest can I deduct and where in TurboTax would I enter it? Thank you.
September 24, 2021
4:26 PM