Do you need to report management fees from a consolidated 1099? (2021 Tax Year)

[Sorakairi89]

I received a consolidated 1099 for my account I have for buying and selling stocks. 

Do I report the total management fee/advisor fee anywhere on my taxes or do leave that out?

[AamilD]

No. According to IRS Publication 529, these are considered miscellaneous itemized deductions and you can no longer claim any miscellaneous itemized deductions and hence you can leave that out. 

[Sorakairi89]

Thank you!

[Mike9241]

maybe they can be left out. some states do allow them as a deduction. but there they actually would produce any state tax benefit is unknown.