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joe0322wang
New Member

Investment broker fees paid

Where can I deduct investment broker fees paid in Turbotax?
1 Best answer

Accepted Solutions
Marketstar
Level 7

Investment broker fees paid

Assuming you are not referring to brokerage commissions on your trades:

To deduct  advisor fees, you must itemize deductions on Schedule A, and the sum total of your miscellaneous deductions including your fees must exceed 2% of your Adjusted Gross Income.

Given the above limitations you may not be able to benefit from your advisory expenses.

To enter investment advisory fees:

  • Type in investment advisor fees the search box, top right of your screen, then click the magnifying glass

  • Click the jump to investment advisor fees link in the search results

  • Follow to prompts and online instructions


View solution in original post

1 Reply
Marketstar
Level 7

Investment broker fees paid

Assuming you are not referring to brokerage commissions on your trades:

To deduct  advisor fees, you must itemize deductions on Schedule A, and the sum total of your miscellaneous deductions including your fees must exceed 2% of your Adjusted Gross Income.

Given the above limitations you may not be able to benefit from your advisory expenses.

To enter investment advisory fees:

  • Type in investment advisor fees the search box, top right of your screen, then click the magnifying glass

  • Click the jump to investment advisor fees link in the search results

  • Follow to prompts and online instructions


View solution in original post

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