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New Member
posted Mar 30, 2022 4:05:25 PM

Can my cell phone, internet bill, or cell phone bill be a deduction for investment expense?

Can my cell phone, internet bill, or cell phone bill be a deduction for investment expense?

 

I just purchased a faster upgraded cell phone in the end of December because I do all of my trading on my phone using multiple platforms. I am a bartender and a mom and I use trading on a regular basis to supplement my income.

Can I use those as investment expenses?

 

Also, I use robinhood, has anyone else noticed that the gold membership charges seem to be going under margin interest? Is this incorrect or should I put the $60 under margin interest as my tax statement says, or put it under investment expense?

 

Thank you! 

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1 Replies
Expert Alumni
Mar 30, 2022 4:38:50 PM

No, you can't deduct the cost of your cell phone as an investment expense.  The only investment expenses that are currently deductible (unless you are a "Trader" in the business of buying and selling securities for your own account) is investment interest.