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Level 2
posted Feb 7, 2024 9:36:47 AM

Does credit card interest count for investment interest itemized deduction?

What Are Deductible Investment Interest Expenses? - TurboTax Tax Tips & Videos (intuit.com)

I already read this article, but I'm still trying to figure out if credit card interest actually qualify for the deduction.

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1 Best answer
Expert Alumni
Feb 7, 2024 9:38:41 AM

No.

 

Credit card interest used for personal purchases isn't tax-deductible. It doesn't count as investment interest.

1 Replies
Expert Alumni
Feb 7, 2024 9:38:41 AM

No.

 

Credit card interest used for personal purchases isn't tax-deductible. It doesn't count as investment interest.