Are financial advisor fees that are shown on a 1099 deductible by a trust under the new tax law? I know they used to be deductible in prior years.
No, for tax years 2018 to 2025, this deduction has been eliminated.
The Tax Cuts and Jobs Act (TCJA) that was signed into law in December of 2017 eliminated all "Miscellaneous Itemized Deductions" formerly allowable on your Schedule A.
Are financial advisor fees that are shown on a 1099 deductible by a trust under the new tax law? I know they used to be deductible in prior years.
No, for tax years 2018 to 2025, this deduction has been eliminated.
The Tax Cuts and Jobs Act (TCJA) that was signed into law in December of 2017 eliminated all "Miscellaneous Itemized Deductions" formerly allowable on your Schedule A.
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