You should read the following TurboTax article.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-are-deductible-investment-interest-e...
Note that you can deduct your investment interest expense during the current tax year, but only to the extent you have investment income, such as interest, dividends, gains, et al. To the extent your investment interest exceeds your investment income, a carry over to the following tax year is created.
