Are Investment / Advisory fees entered on Form 1040? If so where?
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Are Investment / Advisory fees entered on Form 1040? If so where?

 
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Are Investment / Advisory fees entered on Form 1040? If so where?

Investment/Advisory fees are entered as an itemized deduction of Schedule A subject to 2% of your adjusted gross income.

If you have any of the investment-related expenses below, enter them under Other Investment Expenses, in Retirement and Investments.

  • Safety deposit fees
  • Investment advisory fees
  • IRA custodial fees
  • Amortized bond premiums
  • Depreciation of equipment you used to manage your investments (such as a computer)
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Remember, in order to get a tax benefit from this, you need to have more than 2% of your adjusted gross income in miscellaneous itemized deductions, plus you need to itemize your deductions on Schedule A.  If you owe Alternative Minimum Tax, these miscellaneous deductions are not deductible.

Please feel free to post any additional details or questions in the comment section.

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