You'll need to sign in or create an account to connect with an expert.
You may not be giving up anything, but rather gaining a greater deduction. Investment interest expense is an itemized deduction and therefore, it is entered on Schedule A. You are correct in that you can deduct your investment interest expense up to the amount of your net investment income. Thus, if you have $80,000 of interest expense and a comparable amount of capital gains, it may be advantageous to claim the interest expense as well as any other itemized deductions you may have.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
9137421619
New Member
Tax_Lego
Returning Member
Popgam
Returning Member
jakef731
New Member
jmjohnson_75154
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.