Finacial advisor fees

When the Tax Cuts and Jobs Act passed for 2018 to 2025, the "Miscellaneous Expenses" deduction was eliminated from federal taxes---and that included deducting fees you paid to financial advisors, brokers, etc.

Under the new tax law, other investment expenses such as Investment Advisory fees aren't deductible on your federal return, but some states still allow you to deduct them on your state return. TurboTax will figure out if these expenses can affect your state return and do the calculations for you.