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New Member
posted Jun 6, 2019 6:54:31 AM

My husband as an employee of Publix bought additional stock in the company by acquiring a loan thru Publix credit union. Is the interest on that loan deductible?

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1 Best answer
Level 13
Jun 6, 2019 6:54:34 AM

If the entire proceeds of the loan were used to buy stock then the interest is deductible.  You enter that using the "Investment Interest Expenses" under the "Deductions & Credits" tab.  You can only deduct 2016 interest on a 2016 income tax return.

Tom Young

2 Replies
New Member
Jun 6, 2019 6:54:32 AM

I did not think to deduct interest in 2015.  If it is deductible, can I also include it?

Level 13
Jun 6, 2019 6:54:34 AM

If the entire proceeds of the loan were used to buy stock then the interest is deductible.  You enter that using the "Investment Interest Expenses" under the "Deductions & Credits" tab.  You can only deduct 2016 interest on a 2016 income tax return.

Tom Young