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Level 1

Question

Can i claim margin interest charged?

Forum|Forum|4 years ago
April 17, 2022
1 reply
0 views

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TurboTax Premier Online

Level 15

Yes, you can.

Click on Federal

Click on Deductions & Credits

Scroll down to Retirement and Investments

On Investment Interest Expenses, click the Start or Revisit button

Level 2

Not unless you are able to itemize deductions. As nearly usual, the standard deduction was raised this year so many tax payers end up using the standard deduction because they don't have enough itemized deductions. If you are able to itemize then margin interest is only deductible up to the net income amount.

https://www.irs.gov/publications/p550#en_US_2021_publink100010224