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New Member
posted Jun 7, 2019 4:27:51 PM

Can I deduct Investment Management Fees that are reported on my 1099B form?

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1 Best answer
Level 13
Jun 7, 2019 4:27:52 PM

Yes.  But these are reported on Schedule A subject to the 2% of AGI floor.

So unless you itemize AND all of your miscellaneous deduction exceed 2% of your AGI, you will not get any benefit.

4 Replies
Level 13
Jun 7, 2019 4:27:52 PM

Yes.  But these are reported on Schedule A subject to the 2% of AGI floor.

So unless you itemize AND all of your miscellaneous deduction exceed 2% of your AGI, you will not get any benefit.

New Member
Jun 7, 2019 4:27:53 PM

Thanks.  I don't itemize.  So that was very helpful.

Level 13
Jun 7, 2019 4:27:54 PM

You are welcome

New Member
Feb 17, 2022 12:24:14 PM

Unfortunately, according to IRS Publication 529, starting on page 4, miscellaneous brokerage fees and expenses can no longer be deducted.  This has been true since 2018, before this question was originally answered.

 

(Good thing they have the disclaimer in their signature line that forum posts do not constitute tax advice.)