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Investors & landlords
I agree with this comment. For years I have had wire fees associated with maturing CD's and have never found a way to deduct them short of ignoring IRS rules. Unfortunately the IRS does not provide a specific example showing you cannot deduct wire fees, but they have some examples that would cover investment expenses. it becomes clear that these fees ( for an individual) are not deductible. You will never find a 1099-int that will show these fees unless it is classified as a early withdrawal penalty or just deducted from the interest. I have never seen that happen on a 1099-int. I wish this would be put to bed once and for all.
May 10, 2023
7:46 PM