I purchased Copy Trade software and it automatically enters and closes trades. Can the cost of this be subtracted from Gains or Losses? How to report this?
You'll need to sign in or create an account to connect with an expert.
No, but it is an Investment Expense to be included as a itemized deduction.
To enter in TurboTax:
Go to Deductions & Credits
Scroll to Retirement and Investments
Click Other Investment Expenses
These expenses must be more than 2% of your AGI to be deductible, so you may not see a difference in your calculations.
For more information, see page 8 of IRS publication 529 here: Misc Expenses
No, but it is an Investment Expense to be included as a itemized deduction.
To enter in TurboTax:
Go to Deductions & Credits
Scroll to Retirement and Investments
Click Other Investment Expenses
These expenses must be more than 2% of your AGI to be deductible, so you may not see a difference in your calculations.
For more information, see page 8 of IRS publication 529 here: Misc Expenses
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
hartski1
New Member
PetuniasAuntie
Level 2
ResidentReturn
Level 1
harmoniii
Level 2
MLP_Banana
Level 3
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.