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lindaee
New Member

I have miscellaneousMiscellaneous fees listed on my 1099 from Raymond James is this fee deductable

 
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NancyG
New Member

I have miscellaneousMiscellaneous fees listed on my 1099 from Raymond James is this fee deductable

Investment advisory/management fees are deductible as a miscellaneous deduction on Schedule A (Itemized Deductions) subject to 2% of your adjusted gross income.  

In order to get a tax benefit from this, you need to have more than 2% of your adjusted gross income in miscellaneous itemized deductions, plus you need to itemize your deductions on Schedule A.  If you owe Alternative Minimum Tax, these miscellaneous deductions are not deductible.

 

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NancyG
New Member

I have miscellaneousMiscellaneous fees listed on my 1099 from Raymond James is this fee deductable

Investment advisory/management fees are deductible as a miscellaneous deduction on Schedule A (Itemized Deductions) subject to 2% of your adjusted gross income.  

In order to get a tax benefit from this, you need to have more than 2% of your adjusted gross income in miscellaneous itemized deductions, plus you need to itemize your deductions on Schedule A.  If you owe Alternative Minimum Tax, these miscellaneous deductions are not deductible.

 

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