where do i enter advisory fees from wells fargo advisors on my return

Forum|Forum|1 year ago
February 23, 2025
2 replies
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Where do i enter advisory fees on my return?

csotosAuthor

Level 2

Please disregard post above as I found answer on TT below.

Financial advisory fees are generally not deductible on your federal tax return for tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA). This means you cannot deduct these fees as miscellaneous itemized deductions, which previously fell under the 2% rule.

However, if you have job-related expenses, they may still be deductible on your state return. You can enter your expenses in TurboTax, and it will help determine if you qualify for any deductions. If you have more specific details about your situation, feel free to share!

xmasbaby0

Level 15

Fees like that have not been deductible on a federal tax return since the tax laws changed for 2018 and beyond.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**