Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Dec 12, 2022 6:44:24 PM

How much credit do we receive on an investment expense?

example. If we were to borrow $10000 for the year for investment purposes. How much of a tax credit do we receive based on the borrowed amount?

0 1 261
1 Replies
Moderator
Dec 13, 2022 6:13:41 AM

There is no credit for interest expense. Instead you can claim the amount of interest you paid as a deduction from your income.