topic Where to report Brokerage Fees for manage fund such as Wealthfront? in Get your taxes done using TurboTax

Where to report Brokerage Fees for manage fund such as Wealthfront?

kkurni — Mon, 09 Mar 2026 05:34:05 GMT

In my 1099-DIV and 1099-B, there is fees that are not reported to IRS.

Where should I put the brokerage management fees for my managed funds like Wealthfront?

Re: Where to report Brokerage Fees for manage fund such as Wealthfront?

LenaH — Sat, 19 Feb 2022 20:23:16 GMT

Brokerage Fees are miscellaneous itemized deductions and are no longer deductible. Under the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, the deduction for 2% miscellaneous expenses (such as brokerage fees) has been suspended in tax years 2018 through 2025.

Your state may allow that deduction so include it if you itemize.

To enter your expenses, please follow the instructions below:

Open (continue) your return in TurboTax if it's not already open
Click on Federal on the left-hand side.
Click on Deductions & Credits
Click Start next to Other Investment Expenses under Retirement and Investments
Follow the on-screen instructions.

Re: Where to report Brokerage Fees for manage fund such as Wealthfront?

gordongrand — Fri, 25 Mar 2022 20:35:22 GMT

I have a 'managed investment account' where the fees are based on a percentage of the account balance instead of fees for sales of stock. Can these managed fees be used on form 8960 part 2 line 9c (Miscellaneous investment expenses) to reduce the Net Investment Income?

Re: Where to report Brokerage Fees for manage fund such as Wealthfront?

GeorgeM777 — Fri, 25 Mar 2022 22:45:24 GMT

No, your investment management fees are no longer deductible as they are considered a miscellaneous itemized deduction. The Tax Cut and Jobs Act eliminated the deductibility of miscellaneous itemized deductions.

@gordongrand

Rebdeductions

cp_47 — Tue, 21 Mar 2023 20:31:05 GMT

where to report tax deduction for brokage expense

Re: Rebdeductions

RobertB4444 — Tue, 21 Mar 2023 20:51:46 GMT

As @GeorgeM777 says above, the Tax Cuts and Jobs Act eliminated the deduction for brokerage fees. You may no longer deduct these fees on your tax return.

@cp_47