Examples of this type of interest include:
- Interest you paid on securities in a margin account
- Interest you paid on a loan that you took out in a business with someone else
- Interest you paid on a loan that you used to buy stocks
If you received any of the following K-1s, you can file for this deduction if you have an amount in the corresponding boxes.
- Schedule K-1 (Form 1065): Box 13 Code G, Box 20 Code A, Box 20 Code B
- Schedule K-1 (Form 1120S): Box 12 Code G, Box 17 Code A, Box 17 Code B
- Schedule K-1 (Form 1041): Box 14 Code E