ToddL
New Member

Investors & landlords

Yes, you can deduct the interest expense on a loan used to purchase stock.

To enter your investment interest expense in TurboTax Online (for TurboTax Online sign-in, click Here , then select "Take Me to My Return") or Desktop, please follow these steps:

  1. Once you are in your tax return, click on the “Federal Taxes” tab 
  2. Next click on “Deductions & Credits” 
  3. Next click on "jump to full list" or “I’ll choose what I work on” 
  4. Scroll down the screen until to come to the section “Retirement and Investments”
  5. Choose "show more", then Investment Interest Expenses and follow the onscreen instructions

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