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Level 1

Where do I enter the financial advisor fees as a deduction?

 
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Employee Tax Expert

Where do I enter the financial advisor fees as a deduction?

Advisory fees are entered as investment expenses:

  1. Federal Taxes
  2. Deductions & Credits
  3. Scroll down to Retirement and Investments
  4. Select Other Investment Expenses

Note: Management fees paid through the IRA account cannot be deducted. They simply reduce the value of your IRA. On the other hand, management fees paid by cash or check and not deducted from the IRA can be deducted as investment expenses.

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Highlighted
Employee Tax Expert

Where do I enter the financial advisor fees as a deduction?

Advisory fees are entered as investment expenses:

  1. Federal Taxes
  2. Deductions & Credits
  3. Scroll down to Retirement and Investments
  4. Select Other Investment Expenses

Note: Management fees paid through the IRA account cannot be deducted. They simply reduce the value of your IRA. On the other hand, management fees paid by cash or check and not deducted from the IRA can be deducted as investment expenses.

Level 1

Where do I enter the financial advisor fees as a deduction?

Is that on 1040, sched A, sched D, form 8949?  I can't find what you are talking about.