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hadzicad
New Member

Can I deduct my investment advisor fees? these fees show up as misc. fees on my 1099s

 
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Can I deduct my investment advisor fees? these fees show up as misc. fees on my 1099s

"can I deduct my investment advisor fees?"

Not for 2018 (see below).

https://ttlc.intuit.com/replies/6973218

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3 Replies

Can I deduct my investment advisor fees? these fees show up as misc. fees on my 1099s

"can I deduct my investment advisor fees?"

Not for 2018 (see below).

https://ttlc.intuit.com/replies/6973218

PeterM
New Member

Can I deduct my investment advisor fees? these fees show up as misc. fees on my 1099s

Yes, those are deductible on Schedule A of Form 1040. If you paid investment expenses like safe deposit box fees or advisor fees you can deduct the amount OVER 2% of your adjusted gross income as an investment expense if you itemize deductions.  Go to……

  • Federal Taxes
  • Deductions and Credits
  • Choose Explore on my own or I'll choose what to work on  (if it comes up)
  • Then scroll down to Retirement and Investments
  • Other Investment Expenses - Click the Start or Update button

Can I deduct my investment advisor fees? these fees show up as misc. fees on my 1099s

This is inaccurate information as of 2018 tax reform.  This should be taken down as an answer. THis was sent to by one of your experts and it's WRONG.  The second Expert also told me the expenses were still deductible.  
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