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I have $6000 investment interest expense between 2018 and carryover from 2017. if I use standard deduction, would it all carryover to next year?
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June 6, 2019
2:14 AM
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Investors & landlords
Review your form 4952 to see if investment interest is being carried over.
June 6, 2019
2:14 AM
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Investors & landlords
Miscellaneous deductions subject to the 2% limit, including unreimbursed job expenses (reported on Form 2106) have been repealed (taken away) for tax years 2018 – 2025. Affected deductions include:
- Job-search expenses
- Home office†
- Union dues†
- Work-related travel, mileage, and transportation (including DOT per diem)†
- Work-related meals, entertainment, gifts, and lodging†
- Work-related tools and supplies†
- Specialized clothing or uniforms†
- Work-related education†
- Investment fees and expenses
- Safe deposit box rental fees
- Depreciation on computers used for work† or investments
- Membership in professional societies†
- Subscriptions to professional journals or trade magazines†
- Licenses and regulatory fees†
- Malpractice insurance†
- Tax-preparation fees†
- Tax advice fees†
- Educator expenses in excess of $250
- Appraisal fees for casualty losses or donations
- Hobby expenses
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June 6, 2019
2:14 AM
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Investors & landlords
Thanks for answering. You are correct, most investment fees and expenses are no longer deductible, but the investment margin/interest expense still is. And it can be carried over if not used, as shown in form 4952.
June 6, 2019
2:14 AM