Can margin intrest be duducted ? where do i add it ?

[Cynthiad66]

Margin Interest is deductible as Investment Interest Expense.

To input your Investment Interest Expense in TurboTax Premier/Deluxe:

1. Click the Federal Taxes tab
2. Click Deductions & Credits
3. Scroll down to the Retirement and Investments section
4. Click the blue Show More in this section
5. Click Start (or Revisit) next to Investment Interest Expense

@brett069

Margin interest is the interest that is due on loans made between you and your broker concerning your portfolio's assets.

[AamilD]

Please follow the steps as @Cynthiad66 stated. Additionally, keep in mind that margin interest will still be deductible for tax year 2021 as an itemized deduction on Schedule A, so if you take standard deduction, it will not be deductible.