Get Identifying Number 97 72 Name(s) Shown On Return Part I 1 2 3 Total Investment Interest Expense 1 2

This guide provides clear, step-by-step instructions for completing the Identifying Number 97 72 Name(s) Shown On Return Part I 1 2 3 Total Investment Interest Expense 1 2 form online. Understanding how to accurately fill out this form is essential for individuals looking to deduct their investment interest expenses on their tax returns.

Follow the steps to complete the investment interest expense deduction form online.

1. Press the ‘Get Form’ button to access the online form. This will allow you to open the form in an editable format.
2. In the 'Name(s) shown on return' section, enter your name or the name of the relevant taxpayer as it appears on the tax return.
3. Proceed to Part I and record the amount of investment interest expense paid or accrued during the tax year in line 1.
4. For line 2, if applicable, enter any disallowed investment interest expense from the previous year's Form 4952, specifically from line 7.
5. Add the amounts from lines 1 and 2 in line 3 to calculate the total investment interest expense.
6. Move to Part II to assess your net investment income. For line 4a, list your gross income from property held for investment, excluding any gains from property disposition.
7. For line 4b, include any net gains from the disposition of property held for investment.
8. If applicable, enter the net capital gains on line 4c and follow the instructions for line 4e for treatment of these gains.
9. List your investment expenses on line 5, ensuring to adhere to any deductions that may be related to the production of investment income.
10. Subtract line 5 from line 4f for line 6 to determine your net investment income.
11. In Part III, calculate and enter the disallowed investment interest expense carried forward to future years on line 7.
12. On line 8, enter the smaller amount from either line 3 or line 6 to determine your investment interest expense deduction.
13. Finally, review all information entered and save changes. You can then download, print, or share the completed form.

Start filling out your investment interest expense deduction form online now!