The IRS clearly states in Publication 550 that investment
seminar-related expenses are not tax deductible as an investment
expense. This includes seminars that you attend to learn more about
investing or those designed to encourage you to purchase a certain kind
of investment. Expenses incurred to attend a stockholder meeting for a
company whose stock you own or are considering purchasing also are
considered nondeductible investment seminar expenses.
Some other types of investment expenses are tax deductible. A personal
computer and any related peripherals, such as scanners and printers, are
considered deductible investment expenses. Investing magazine
subscriptions also qualify as deductible investment expenses, as do
legal and accounting expenses that you pay for investment advice.
Allowable deductions for investment expenses are claimed on Schedule A
as miscellaneous itemized deductions. Your total
miscellaneous itemized deductions must exceed 2 percent of your adjusted
gross income to be deductible, and then only the amount exceeding that 2
percent threshold qualifies as a tax deduction. Most taxpayers do not
have enough allowable expenses to exceed that amount.
For additional information see: IRS Pub 550 Investment Interest
and Expenses
