singh
Level 7
‎03-12-2022 12:33 AM

On 1099B under ' RECONCILIATION, FEES, EXP. AND EXPENDITURES' there is $1950 for Fees & Expenses- Margin interest.

Where does this go on form 1040/ 1099B?

Can this be deducted.

Thank you.

0 Cheers
jeffmcpa2010
Level 11
‎03-12-2022 04:33 AM

Try form 4952 Investment Interest Expense - It might work there, but it's been so long since I have used it I can't be sure with out reading up on it - but that's where I would start looking.

Skylane
Level 11
Level 11
‎03-12-2022 04:50 AM

If it’s a consolidated 1099 double click on the line on Schedule B that you entered the dividends and it will open a worksheet where you can put margin interest 

If at first you don’t succeed…..find a workaround