If you are subject to investment income tax of 3.8%, and are allowed to deduct investment expenses like investor advisor fees, investment interest, where do you enter?

[DavidD66]

Investor advisor fees are not deductible on your federal return, unless you are a trader reporting your trading activity on Schedule C as self-employment income.  Interest expense is dedutible as an itemized deduction on Schedule A.  To enter it, while in your return:

• Click on Tax Tools on left hand side of page
• Click on Tools
• Click on Topic Search
• Type in "Investment Interest"
• Answer Yes to Do you have 2024 Investment Interest expenses or 2023 carryovers?
• Enter descriptions and amounts

If your state allows a deduction for Investment Advisor Expenses, repeat the steps above, but enter "Investment Advisor Expenses"