turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

nallp47
New Member

Are non-exempt dividends included in income? they are added on the income sheet

also, are fees and expenses from Ameriprise deductible?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Fern
New Member

Are non-exempt dividends included in income? they are added on the income sheet

Yes non-exempt dividends are included in income unless they are considered qualified dividends. Your 1099 DIV will distinguish between qualified dividends and non qualified dividends.

Yes, fees and expenses are deductible. You can include the fees paid by cash or check as investment expenses.  You cannot deduct fees paid through your IRA account.

On the other hand, management fees paid by cash or check and are not deducted from the IRA can be deducted as investment expenses.

Investment expenses are considered part of Miscellaneous Itemized Deductions.  The total of all Miscellaneous Itemized Deductions must be more than 2% of adjusted gross income to be included in the calculation of itemized deductions.

View solution in original post

1 Reply
Fern
New Member

Are non-exempt dividends included in income? they are added on the income sheet

Yes non-exempt dividends are included in income unless they are considered qualified dividends. Your 1099 DIV will distinguish between qualified dividends and non qualified dividends.

Yes, fees and expenses are deductible. You can include the fees paid by cash or check as investment expenses.  You cannot deduct fees paid through your IRA account.

On the other hand, management fees paid by cash or check and are not deducted from the IRA can be deducted as investment expenses.

Investment expenses are considered part of Miscellaneous Itemized Deductions.  The total of all Miscellaneous Itemized Deductions must be more than 2% of adjusted gross income to be included in the calculation of itemized deductions.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies