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New Member
posted Feb 21, 2021 10:14:58 AM

Are Brokerage Fees deductible and if yes, are they part of the standard deduction or a separate input?

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2 Replies
Expert Alumni
Feb 21, 2021 10:29:06 AM

No. Starting Jan. 1, 2018, under the new Tax Cuts & Jobs Act, investment advisory fees (including account management fees) are NOT tax deductible, regardless of which funds are used to pay them.

Level 15
Feb 21, 2021 11:08:42 AM

not deductible for federal purposes but some states have different rules that could allow the deduction.  so what is your resident state?