Form 4952 online DE 2024-2025

Form 4952 online DE: What You Should Know

The first page will display: What is this? (Form 4952). The Tax Act program uses the text below as the screen background. Under “The purpose of form 4952,” the Tax Act program will display:  Enter the amount of interest expense you may deduct for the current year. Enter the capital gain interest expense deduction limit for the current tax year. Enter the amount by which the capital gain for the current year exceeds your personal exemptions that year. Enter the amount by which the investment interest deduction limitation is at least 50 per cent of you taxable income. What can be deducted in the investment interest expense deduction? Form 4952 is a tax form that provides specific amounts for tax years that follow. It allows certain taxpayers to calculate the deduction for the investment interest expense on the following interest expense: Qualified dividend interest in a qualified farm or fishing property Qualified rental property (RPR) interest on qualifying property Qualified principal residence mortgage payment Investment interest expense deductions can be carried forward years using the investment interest expense limit. You can deduct interest expense for the current year on interest paid or payable on a qualified farm or fishing property, GPRS and qualifying properties, or property for which you claim the following tax benefits and carry forwards: Capital Gain Deduction You can carry over to future years capital gains on qualified rental RPR property. If you do not claim a loss, the capital gain deduction limit is equal to the amount of the interest expense deducted in the current year. For the 2025 tax year, the maximum amount that you can deduct under this deduction for GPRS is 100,000. Investment Interest Deduction You can deduct qualified lease interest in a qualified farm or fishing property used for investment purposes during the taxable year. The interest expense deduction limit for the current year is the least of 50 per cent of the total interest expense or the total of all interest expenses paid or payable for that property. An income tax or capital gains withholding adjustment will not be computed against this property. You are not allowed to claim capital loss deductions with respect to the interest expense or carry over the deduction limit. Investment Interest Deduction — Carryovers In some cases, the excess of the amount you carry over to the next year over the amount of the actual deduction that can be claimed for that year is taxable income. You may be subject to the alternative minimum tax due to the carryover of excess deductions.

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