Hi @panthertwo2 Do you have day trader status with the IRS (mark to market)? If not you are considered an investor and these deductions are not considered deductible.
Those without a trader tax designation are considered to be investors, according to the IRS. This means that they are not eligible for many of the write-offs and other things that a day trader can use to offset the amount of money that they make through their trades each year. For example, a day trader can deduct things like losses, as well as other write-offs like business expenses. An investor often cannot, and any money made either counts as ordinary income or falls subject to capital gains taxes. Including these things on your tax return, if you do not qualify for them, can result in fines, audits, and other penalties.
However if you do have the correct status these expenses are deductible under the Self employed section of the tax return (Schedule C).
Hope this information helps
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