Investment Interest?
We have a client who fills out her own taxes. She currently has a Traditional Ira and a Roth Ira with us. While she was filling out her taxes it asked for investment interest either paid or accrued. Does anyone have any suggestions as to what that would be?
Permalink Submitted by Alan - IRA critic on Fri, 2018-02-09 17:22
Investment interest is usually a margin loan used to purchase taxable account investments. It does not apply to IRA accounts. If client has paid margin loan interest, they still need to itemize deductions in order to deduct this interest.