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J
jessielbennett
Level 2
June 7, 2019
Solved

Can I deduct Investment Management Fees that are reported on my 1099B form?

  • June 7, 2019
  • 2 replies
  • 13 views
No text available
Best answer by Rick19744

Yes.  But these are reported on Schedule A subject to the 2% of AGI floor.

So unless you itemize AND all of your miscellaneous deduction exceed 2% of your AGI, you will not get any benefit.

2 replies

Rick19744
Level 13
Rick19744Level 13Answer
Level 13
June 7, 2019

Yes.  But these are reported on Schedule A subject to the 2% of AGI floor.

So unless you itemize AND all of your miscellaneous deduction exceed 2% of your AGI, you will not get any benefit.

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.
J
jessielbennettAuthor
Level 2
June 7, 2019
Thanks.  I don't itemize.  So that was very helpful.
C
CDEBTS
Level 2
February 17, 2022

Unfortunately, according to IRS Publication 529, starting on page 4, miscellaneous brokerage fees and expenses can no longer be deducted.  This has been true since 2018, before this question was originally answered.

 

(Good thing they have the disclaimer in their signature line that forum posts do not constitute tax advice.)

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