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Investors & landlords
BillP23,
Unfortunately, the law changed in 2017 and such fees are no longer federally deductible. However, you can still enter them in TurboTax as miscellaneous deductions subject to a 2% AGI threshold in case your state income tax does allow them to be deducted. The 2% threshold means that 2% of your adjusted gross income is subtracted from the sum of such miscellaneous expenses as listed in, say, Investment Expense Tax Deduction - Which Fees Can You Deduct? (moneycrashers.com) , and only what's left, if any, is an itemized deduction.
May 3, 2021
9:05 PM