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stevens2447
New Member

Do I get a tax deduction for travel to meet with a new financial broker/advisor. Hotel? Meals? Mileage?

 
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Accepted Solutions
Coleen3
Intuit Alumni

Do I get a tax deduction for travel to meet with a new financial broker/advisor. Hotel? Meals? Mileage?

Yes.

Maximize itemized deductions

The expenses you incur while making investments can be itemized deductions that offer tax-reducing benefits. These miscellaneous deductions must total at greater than 2 percent of your adjusted gross income before they begin to count.

Examples include investment-related courses you take, subscriptions to financial publications, special software and safe deposit box fees for holding investments. Legal and accountant fees for investment advice can be deducted, as can travel expenses incurred to get that advice.

https://turbotax.intuit.com/tax-tips/investments-and-taxes/tax-tips-for-investors/L5woKP9wl

 

As of January 2018, employeee business expenses are disallowed for Federal purposes for TCJA.

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5 Replies
Coleen3
Intuit Alumni

Do I get a tax deduction for travel to meet with a new financial broker/advisor. Hotel? Meals? Mileage?

Yes.

Maximize itemized deductions

The expenses you incur while making investments can be itemized deductions that offer tax-reducing benefits. These miscellaneous deductions must total at greater than 2 percent of your adjusted gross income before they begin to count.

Examples include investment-related courses you take, subscriptions to financial publications, special software and safe deposit box fees for holding investments. Legal and accountant fees for investment advice can be deducted, as can travel expenses incurred to get that advice.

https://turbotax.intuit.com/tax-tips/investments-and-taxes/tax-tips-for-investors/L5woKP9wl

 

As of January 2018, employeee business expenses are disallowed for Federal purposes for TCJA.

garrett
New Member

Do I get a tax deduction for travel to meet with a new financial broker/advisor. Hotel? Meals? Mileage?

Could you site a link to the code or ruling for where it says you can deduct the travel expenses incurred to get investment and tax advice?
SweetieJean
Level 15

Do I get a tax deduction for travel to meet with a new financial broker/advisor. Hotel? Meals? Mileage?

For 2017?
garrett
New Member

Do I get a tax deduction for travel to meet with a new financial broker/advisor. Hotel? Meals? Mileage?

yes please - for while the miscellaneous deduction was still in place. If you still can.
SweetieJean
Level 15

Do I get a tax deduction for travel to meet with a new financial broker/advisor. Hotel? Meals? Mileage?

T.C. Memo. 1968-22
Martha E. Henderson v. Commissioner.
<a rel="nofollow" target="_blank" href="https://www.leagle.com/decision/196813627utcm1091116">https://www.leagle.com/decision/196813627utcm1...>
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