Solved: 1099b lists summaries for ST income, LT income, and a summary for Other Deductions for custodian & mgt fees (allocable). Where to I put these allocable fees on the form?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

1099b lists summaries for ST income, LT income, and a summary for Other Deductions for custodian & mgt fees (allocable). Where to I put these allocable fees on the form?

on my 1099b form, I receive summaries for short term income, long term income, and a summary for Other Deductions related to custodian and management fees (allocable).  Where to I put these allocatable fees on the form?

1 Best answer

Accepted Solutions
Level 6

1099b lists summaries for ST income, LT income, and a summary for Other Deductions for custodian & mgt fees (allocable). Where to I put these allocable fees on the form?

Eligible custodian fees and advisory fees are considered investment expenses and are deducted on Schedule A as a miscellaneous itemized deduction.  You may deduct the amounts you paid that were above 2% of your AGI.

View solution in original post

1 Reply
Level 6

1099b lists summaries for ST income, LT income, and a summary for Other Deductions for custodian & mgt fees (allocable). Where to I put these allocable fees on the form?

Eligible custodian fees and advisory fees are considered investment expenses and are deducted on Schedule A as a miscellaneous itemized deduction.  You may deduct the amounts you paid that were above 2% of your AGI.

View solution in original post

Dynamic Ads
v
Privacy Settings