Investment (margin) interest deduction is claimed on Form 4952 Investment Interest Expense Deduction and the allowable deduction will flow to Schedule A (Form 1040) Itemized Deductions, Line 9 to be claimed as an itemized deduction, up to the amount of your investment income.
To enter the information for Form 4952 in the TaxAct program:
Tax Reform Update: Most of the miscellaneous itemized deductions you may have claimed in the past, including investment expenses, have been suspended under the new law. These deductions include:
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