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Deductions & credits
Investment expenses, not including interest, are no longer an eligible deduction. They used to be an itemized deduction if they exceeded 2% of your AGI. TurboTax will still track your personal investment expenses if you enter them. They will not impact your federal or state returns.
You can still deduct these expenses if you are self-employed as a trader and the online subscriptions pertain to your business investments, not your personal investments. These will be recorded on Schedule C along with your other self-employment expenses.
The IRS has a tax topic differentiating personal investing from professional traders.
‎April 17, 2022
8:36 AM