Can these expenses be deducted?I started investing in 2021 and I purchased books, algo software and some other expenses to maintain my stock and options investment.
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1 Best answer
Anonymous_
Level 15
Oct 2, 2022 3:55:28 PM
After tax reform, those miscellaneous investment expenses are no longer deductible.
You would have to itemize on Schedule A and they would have to exceed the 2% floor even if they were deductible.
2 Replies
Bsch4477
Level 15
Oct 2, 2022 3:54:38 PM
No, there is no deduction for those expenses.
Anonymous_
Level 15
Oct 2, 2022 3:55:28 PM
After tax reform, those miscellaneous investment expenses are no longer deductible.
You would have to itemize on Schedule A and they would have to exceed the 2% floor even if they were deductible.