I have other investment expense deductions other than those listed and don't know where to enter..

[MichaelL1 · Accepted solution]

To enter Investment Expenses in TurboTax:

• Click on Federal Taxes 
• Click on Deductions and Credits
• Click on I'll choose what I work on (if shown)
• Scroll down to Retirments and Investments
• On Other Investment Expenses, click on the start or update button

Note:  The investment-related expenses – along with your other miscellaneous itemized deductions – must exceed two percent of your adjusted gross income (AGI) to be deductible. For example, if your AGI is $50,000, you can deduct only the amount that exceeds $1,000. 

[randsom]

All it says is to enter this into the "other deductions group".  I look there and it wont let me enter magazine, copying or postage.............

[JohnW152]

Okay.  Follow down the same path you went before.

1. Click Deductions & Credits in the banner
2. Scroll down and click Show more to the right of Other Deductions and Credits
3. Click Start to the right of Other Deductible Expenses
4. Go through the interview until you get to the Did you have any of these less common expenses? page.  Answer Yes, and you’ll be taken to the Tell us about your less common expenses page, where you can enter your information.

@randsom

[randsom]

None of the boxes under "Tell us about your less common expenses" apply to my expenses for maintaining my investments.  There really should be a more clear entry point for this information.

[DaveF1006]

They should because johnW102 has listed the right path for you to take. After you follow the menu path and select other deductible expenses, he program asks if there were any generation skipping taxes, you will say no. Then the next screen asks 

• Did you have any of these less common expenses? You will say yes. If you read, investment expenses is listed as an option.
• The next screen will allow you to list investment expenses as an option and then the amount of the investment expenses.

@randson

[randsom]

I read ass instructed and not one box had anything indicating investment expenses.  I just e-filed and I did not take a screenshot unfortunately.  It was odd boxes asking about other stuff.  After e-filinig, I re-opened my TT and went exactly where you stated and suddenly it asks me about investment expenses!  I wish I had that before I filed!  Should I ammend??  A poster on another tpoic said the investment expenses is dissalowed till 2025?  But maybe it would have helped for my state return......Without knowing to visit "other deductions", the average user wouldnt know to enter it here.  TT should specifically ask about investment expenses.  

With the lack of guidance, especially with my California taxes, I'm really starting to doubt using TT next year.  For instance on state, the program will only ask for me to enter any differences for California.  How do I know what dollar amounts to put in without any guidance??  This is why I buy TT, so that it will know and ask me if or what California differences I may or may not have!  It's like I'm supposed to know this already.  Therefore I never put any California differences and I wonder every year if I should have.  I don't buy TT to have to research tax law for my state.  TT should know and ask.  Frustrating.   

[bikengen]

Sorry, but "investment expenses" not an option for "Less Common Expenses" in 2022 Turbotax download Premium.  It was for 2021 Turbotax.  Although that category is not deductible for federal returns, it IS for some states, and Turbotax ought to provide that capability.  Meanwhile, what is the workaround? 

[JohnW152]

To enter investment expenses in TurboTax Desktop:

1. Select FEDERAL TAXES in the banner
2. Select Deductions & Credits below that
3. Scroll down to Retirements and Investments
4. Select  Start to the right of Other Investment Expenses.  Note that Investment Interest Expenses are just above that, if needed

@bikengen