Ientered my Financial Advisory Fees for 2018 in TurboTax and they do exceed 2% of my AGI. The forms sent left "Other Itemized Deductions" blank. Why?

eprzy · ‎June 4, 2019

Please see above

MinhT · ‎June 4, 2019

Up to tax year 2017, investment expenses were part of miscellaneous itemized deductions subject to the 2% of AGI floor.

Under the Tax Cuts and Jobs Act, the miscellaneous itemized deductions subject to the 2% of AGI floor are suspended for expenses incurred after December 31, 2017 through 2025.

Therefore, your investment expenses are no longer deductible for tax year 2018.

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View solution in original post

MinhT · ‎June 4, 2019

Up to tax year 2017, investment expenses were part of miscellaneous itemized deductions subject to the 2% of AGI floor.

Under the Tax Cuts and Jobs Act, the miscellaneous itemized deductions subject to the 2% of AGI floor are suspended for expenses incurred after December 31, 2017 through 2025.

Therefore, your investment expenses are no longer deductible for tax year 2018.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Ientered my Financial Advisory Fees for 2018 in TurboTax and they do exceed 2% of my AGI. The forms sent left "Other Itemized Deductions" blank. Why?