NECPA in NEBRASKA Posted April 4, 2016 Report Share Posted April 4, 2016 In reading the instructions for line 9a, it says that you can deduct the investment interest expense included on line 14 on Schedule A. There is a 7K amount there, but they had so much of their deductions limited, that they ended up with standard deduction. So---they don't get to deduct any of their investment interest expense on form 8960? That seems like a ripoff to me, but then nobody asked me what I thought about the ACA. Thanks! Bonnie 1 Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 4, 2016 Report Share Posted April 4, 2016 That's correct. If the person doesn't itemize, then those deductions can't be included on the 8960. 2 Quote Link to comment Share on other sites More sharing options...
NECPA in NEBRASKA Posted April 4, 2016 Author Report Share Posted April 4, 2016 Thanks, Judy. I was sure that was the case, but I was hoping that I was wrong. Quote Link to comment Share on other sites More sharing options...
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