Not as an investment interest expense, but possibly as an investment expense.
Here’s a list of investment-related expenses that you may be
able to deduct:
- Fees for investment counsel and
advice, including subscriptions to financial publications
- IRA or Keogh custodial fees, if
paid by cash outside the account
- Software or online
services used to manage your investments
- Safe deposit box rent,
if used the box to store certificates or investment-related documents
- Transportation to your broker’s
or investment adviser’s office
- Attorney, accounting or
clerical costs necessary to produce or collect taxable income
- Charges for automatic
investment services and dividend reinvestment plans
- Costs to replace lost security
certificates
Investment-related expenses that can't be deducted include:
- Trading commissions—these are
"capitalized" to increase your cost basis and/or reduce your
taxable sales proceeds
- Costs of traveling to attend a
shareholder’s meeting
- Investment advisory fees
related to tax-exempt income—you generally need to prorate these fees
based on the portion of tax-exempt investment income versus total taxable
investment
Miscellaneous
itemized deductions are generally limited to the amount of expenses over and
above 2% of your adjusted gross income (AGI). In other words, there’s a floor
below which you lose the ability to deduct.
