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posted Mar 3, 2024 1:59:10 PM

Can I deduct travel expenses to my financial advisor if I'm retired?

I had a road trip from Arizona to Iowa and while in Iowa was going to meet with my financial advisor. Is any of those costs deductible? What if due to an emergency situation, I was unable to meet with my advisor?

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1 Replies
Level 15
Mar 3, 2024 2:02:51 PM

No.    There is no federal deduction for getting financial advice or for the fees you pay for such services.  The federal "miscellaneous" deduction was eliminated when the tax laws changed for 2018 and beyond.   Your road trip was a personal expense.