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New Member
posted Jan 31, 2021 5:09:16 AM

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?

0 2 793
2 Replies
Expert Alumni
Jan 31, 2021 5:42:38 AM

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?

Level 15
Jan 31, 2021 6:01:51 AM