I purchased during 2017 class A shares in the company I work for. The company gave me a loan to purchase the shares. May I deduct the interest on this note receivable?

[ToddL · Accepted solution]

Yes, you can deduct the interest expense on a loan used to purchase stock.

To enter your investment interest expense in TurboTax Online (for TurboTax Online sign-in, click Here , then select "Take Me to My Return") or Desktop, please follow these steps:

1. Once you are in your tax return, click on the “Federal Taxes” tab 
2. Next click on “Deductions & Credits” 
3. Next click on "jump to full list" or “I’ll choose what I work on” 
4. Scroll down the screen until to come to the section “Retirement and Investments”
5. Choose "show more", then Investment Interest Expenses and follow the onscreen instructions