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Deductions & credits
Unfortunately, investment expenses cannot be deducted on your return. They were eliminated with 2018 Tax Cuts and Jobs Act (TCJA).
Fees for investment costs were deductible as a miscellaneous itemized deduction, to the extent they and other costs exceeded 2 percent of your adjusted gross income
Also, tax preparation fees are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. Self-employed taxpayers can still write off their tax prep fees as a business expense.
Use this link for more details: Tax Prep Feed No Longer Deductible
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‎April 5, 2021
12:09 PM