As JM said, this is Investment Interest Expense and it is deductible. ;<)
As JM also said, you will need to have TT complete Form 4952, Investment
Interest Expense Worksheet, to be sure that you have enough investment
income to cover this expense. IF you do, then the deductible amount will go
to Schedule A and be added your other itemized deductions to see if you have
more total deductions than the Standard Deduction. So you may or may not
wind up with a tax benefit from the interest expense.
Remember, I've been retired for well over a decade, so check with your own
CPA for current tax rules.
R. C. White, CPA
San Marcos, TX
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