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California - Personal loan fees (for investment) deductible?

Are personal loan fees (loan used for investment) deductible on CA return? Specifically credit card fees on credit card loan that was used for investment.

Federal only allows interest deduction for investment and no fee deduction, wondering on California. 

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1 Reply
MonikaK1
Employee Tax Expert

California - Personal loan fees (for investment) deductible?

California generally follows Federal law with regard to investment interest. See here for the 2022 California Form 3526 for investment interest and instructions. Credit card fees do not constitute interest. They are deductible only as business expenses.

 

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