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jdc8723
New Member

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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3 Replies

I have $6000 investment interest expense between 2018 and carryover from 2017. if I use standard deduction, would it all carryover to next year?

Review your form 4952 to see if investment interest is being carried over.
AlanT
Expert Alumni

I have $6000 investment interest expense between 2018 and carryover from 2017. if I use standard deduction, would it all carryover to next year?

Miscellaneous deductions subject to the 2% limit, including unreimbursed job expenses (reported on Form 2106) have been repealed (taken away) for tax years 2018 – 2025.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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jdc8723
New Member

I have $6000 investment interest expense between 2018 and carryover from 2017. if I use standard deduction, would it all carryover to next year?

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.
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