Deductions & credits
EVERYTHING you are talking about is already included in Turbotax, see the screenshots below. You may need to click "show more" or "let me choose what to work on" to see all the options.
Investment Interest (interest paid on loans used to buy investments) is a federal itemized deduction. It survived tax reform. Interest expenses have ALWAYS been separate from other investment expenses because they have to be tracked separately on form 4952, and you can only deduct interest against income. For example, you borrow $10,000 to buy stock. You pay $500 interest the first year, but the stock only pays $200 of dividends. You can deduct $200 this year, and carry the other $300 forward. Next year you pay another $500 in interest, and you sell the stock for a $1000 capital gain. You can deduct the $500 current interest plus the $300 interest carried forward.
The investment interest deduction is located here...
All other investment expenses are miscellaneous itemized deductions subject to the 2% rule. This deduction was eliminated at the federal level for 2018-2025, but some states still allow this deduction. You can still enter these expenses in Turbotax. They won't be reported on your federal return but will flow to your state return if you state allows it. Here is where to find it in the program...
Remember that Investment Interest must always be reported separately from other investment expenses, even before the TCJA.
