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I noted while computing the estimated tax for 2021 using Turbotax that this loan interest is to be included under Itemized deductions, based on the explanatory notes against that item explicitly mentioning margin loans. If I choose Standard Deduction (as the total of itemized deductions is lower) then I cannot utilize this expenditure at all.

If I treat this expense as a negative interest and deduct from the sum of income and dividend, then using standard deduction I can see the reduction of both AGI and taxable income. Is this permissible?

Btw, what is the standard deduction for a Single person? Is it 12,550, or 14,250 for persons older than 65?
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