I have a net capital loss for 2022 (long term/short term equits net losses) and my only other income is dividends (qualified and non qualified).
It seems to me that I will benefit by making the "Net Investment Income" election for the qualified dividends, yes? because it will simply reduce my capital losses (they exceed the qualified dividends)?
also, i was advised that my margin interest, which seemed to be capped as a deduction, may be used more efficiently with this election? My margin interest exceeds the standard deduction, but seems to be capped at $5,000 or so for an itemization, which is odd.
But mainly I'm concerned about reducing my net income. because net of everything, i was in the red in 2022 (i have no other income), yet turbotax is still asking me to pay the state about $300 because of the dividend income it seems.