#Good news! The IRS has extended the tax deadline to April 18th! As long as you submit your federal return by midnight on 4/18/2018, you won't be considered a late filer for your federal return. Direct debit tax payments that are submitted with your federal return (or on the IRS website) by 4/18 are also considered timely filed ×

Where do I report investment interest expenses on my taxes?

Investment interest expenses are deductible as an itemized deduction on Schedule A of the tax return. If your portfolio includes both taxable and tax-exempt securities, only the taxable expenses can be deducted. If your standard deduction is higher than your itemized deductions, you won’t be able to deduct the investment interest expenses you paid.

Don’t confuse investment interest expense with qualified mortgage interest that you paid on your home. That interest is reported on a separate line on Schedule A.

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