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New Member
posted Jun 4, 2019 11:12:49 PM

I paid $750 to an stock advisor for specific Stocks and Options trading instruction. Is there a tax break associated with that expense?

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1 Replies
New Member
Jun 4, 2019 11:12:50 PM

Yes you can claim a deduction for this expense if you qualify to itemize your deductions. However, this expense is subject to the 2% rule. Please refer to the following FAQ for additional information. https://ttlc.intuit.com/replies/4800344

To itemize your deductions, you would have to have personal expenses such as medical and dental expenses, mortgage interest, real estate taxes, unreimbursed job expenses and certain miscellaneous expenses, and charitable contributions that when combined together, total more than your standard deduction. For example if you file single, your standard deduction is $6300 so you would have to have personal expenses that total more than $6300.