Brokerage Fees are miscellaneous itemized deductions and are no longer deductible. Under the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, the deduction for 2% miscellaneous expenses (such as brokerage fees) has been suspended in tax years 2018 through 2025.
Your state may allow that deduction so include it if you itemize.
To enter your expenses, please follow the instructions below:
- Open (continue) your return in TurboTax if it's not already open
- Click on Federal on the left-hand side.
- Click on Deductions & Credits
- Click Start next to Other Investment Expenses under Retirement and Investments
- Follow the on-screen instructions.
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