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My stock account got so much margin interesting charge, can I deduct from my stocks gain or any other income? How?

My stock account got so much margin interesting charge, can I deduct from my stocks gain or any other income?
How?
2 Replies
KathrynG3
Expert Alumni

My stock account got so much margin interesting charge, can I deduct from my stocks gain or any other income? How?

It depends on whether the stock was sold. Once it is sold, then the costs can be deducted. To do this in TurboTax,

  • From the Wages & Income section, scroll down to Investment Income and select Show More 
  • Stocks, Mutual Funds, Bonds, Other (1099-B) and Start
  • Follow through the rest of the interview to enter your details

For more details, see How is a capital gain or loss calculated?

My stock account got so much margin interesting charge, can I deduct from my stocks gain or any other income? How?

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