Investment Interest Carryforward

[John of PA]

It seems to me, looking at the mechanics of the form 4952, that the carryover of unused investment interest expense (a sch A deduction) only goes forward one year and not more than one year. Has anyone had experience with this? Thanks

[jimmcg]

jim mcg

Goes forward to the following year where you put it on line 2 and then crank out the following year allowable amount.....

[DAVEEA]

I agree with jim mcg. Can carry forward year after year until offset by investment income.

[Snaggletooth]

Just like LTCLoss

John of PA, you're exactly right about the mechanics -- it is only one year at a time. But an amount carried forward will carry forward AGAIN into yet another year until there is enough income. And again and again and again if need be.

Similar to a short-term or long-term capital loss in excess of $3,000. A loss of $50,000 will last several years, but the calculation has to be made one year at a time.

The old Johnny Cash song, "Does anyone want a '43 '53 '63 '73 automobile?"

[John of PA]

Thanks, makes sense

Thank you guys, that does make sense.