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15calver
New Member

I bought investment books, magizines and a tradfing service that helps me buy and sell stocks. Is that a deduction on schedule A?

 
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KenH1
New Member

I bought investment books, magizines and a tradfing service that helps me buy and sell stocks. Is that a deduction on schedule A?

Yes, if you itemize deductions.  Investment Expenses are a Miscellaneous Itemized Deduction and thus subject to the 2% AGI floor, i.e. they only kick in after total miscellaneous deductions surpass roughly 2% of your income.  Go to:

Federal Taxes, then

Deductions & Credits

Scroll down to Retirement and Investments

Select Other Investment Expenses

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1 Reply
KenH1
New Member

I bought investment books, magizines and a tradfing service that helps me buy and sell stocks. Is that a deduction on schedule A?

Yes, if you itemize deductions.  Investment Expenses are a Miscellaneous Itemized Deduction and thus subject to the 2% AGI floor, i.e. they only kick in after total miscellaneous deductions surpass roughly 2% of your income.  Go to:

Federal Taxes, then

Deductions & Credits

Scroll down to Retirement and Investments

Select Other Investment Expenses

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