What is the investment interest expense? It is showing up on my deductions and I can't delete it. I have no investments and I do not have any money in stocks.

[RayW7]

If you do not have any investment interest expense or carryovers from previous years then just answer no to the interview question.

Go back in TurboTax to 

1. Personal

2. Personal Income

3. Deductions & Credits

4. Retirement and Investments

5. Investment Interest Expense 

6. answer no to the question.

When you borrow money to buy property for investment purposes, any interest you pay on that borrowed money becomes an "investment interest expense." For example, say you take out a $5,000 loan against your home equity and use the money to buy stock. The interest on that loan is investment interest. (It wouldn't be deductible as mortgage interest because you didn't use the money to buy, build or improve your home.) If you use only part of the borrowed money for investments, you can deduct only a proportional amount of the interest you pay.

If you do not itemize and take the standard deduction this will not be an issue for you. 

To actually claim the deduction for investment interest expenses, you must itemize your deductions. Investment interest goes on Schedule A, under "Interest You Paid." You may also have to file Form 4952, which provides details about your deduction. You don't have to file this form if you meet three conditions: interest is the only investment expense you're deducting; you're not carrying forward any disallowed interest from the previous year, and your investment interest doesn't exceed your investment income from interest and ordinary dividends.

-follow this link for more information-

What is Form 4952: Investment Interest Expense ... - TurboTax

[schlicke]

I have the same problem. I hit no and the deduction is still there. I have no major stocks, I own no property, I don't get any interest forms and only 1 dividend form from Ameren. I just want to 0 out the carryover Investment Interest which occurs every year. I keep saying no, but it keeps showing up. I need help. Thanks much.

Eugene O.

[email address removed]

[FangxiaL]

Follow these steps to remove the investment interest expense:

WIth your federal return open:

1. Click on Show more next to Retirement and Investments under the Deductions & Credits section
2. Click on Start or Revisit next to Investment Interest Expenses
3. On the next screen, select Yes
4. On the next screen, check the box I have 2020 investment interest expense carryovers to remove any carryover amount 
5. Continue.

[cheeseymcfartface]

This doesn't work for me.  I still can't remove the carryover interest.  How can I delete this some other way?

[JamesG1]

You may be able to remove the form by:

• Down the left side of the screen, click on Tax Tools.
• Click on Tools.
• Click on Delete a form.
• Find the form listed and click Delete to the right.

What is investment interest expense?  In general, you can deduct interest paid on money you borrow to invest, although there are restrictions on how much you can deduct and which investments actually qualify you for the deduction.  See TurboTax Help.

@cheeseymcfartface