No, not unless you itemize your deductions. If you itemize your deductions, you may be able to claim a deduction for your investment interest expenses. Investment interest expense is the interest paid on money borrowed to purchase taxable investments. As explained by @AbrahamT, the amount that you can deduct is capped at your net taxable investment income for the year. If you have leftover investment expense that cannot be deducted in tax year 2022, then that leftover amount gets carried forward to the next year and potentially can be used to reduce taxes in the future.
@techie353
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
