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April 4, 2025
Question

Qualified Dividends adjusted to Ordinary Dividends

  • April 4, 2025
  • 1 reply
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seeking information on how to adjust qualified dividends to ordinary dividends to offset investment expense. 

1 reply

April 4, 2025

you mean investment interest expense because other investment expenses are not currently deductible. in the itemized deduction section under Retirement and investments> investment interest expense. you should eventually come to a page that says "Make capital Gain Election." it also includes qualifies dividends. . Turbotax should tell you how much is available. enter any amount up to the max.

 

 

there will be no benefit if you can't itemize. Any excess IIE will be a carryover to 2025 (you would not elect to use any qualified dividends or net long-term capital gains if you can't itemize