140687
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This brokerage fee that you paid is deductible, if it was not in a retirement account (like a IRA) as an Investment Expense.
If it was in a Retirement account it could be deductible if you paid it with money outside of the retirement account.
Note:
The investment-related expenses – along with your other miscellaneous itemized deductions – must exceed two percent of your adjusted gross income (AGI) to be deductible. For example, if your AGI is $50,000, you can deduct only the amount that exceeds $1,000.
To enter this in TurboTax go to the following:
Federal Taxes
Deductions and Credits
scroll down to bottom to: Other Deductions and Credits
to second one from bottom: Other Deductible expenses
you will answer "no" on next screen and then see investment expenses.
This brokerage fee that you paid is deductible, if it was not in a retirement account (like a IRA) as an Investment Expense.
If it was in a Retirement account it could be deductible if you paid it with money outside of the retirement account.
Note:
The investment-related expenses – along with your other miscellaneous itemized deductions – must exceed two percent of your adjusted gross income (AGI) to be deductible. For example, if your AGI is $50,000, you can deduct only the amount that exceeds $1,000.
To enter this in TurboTax go to the following:
Federal Taxes
Deductions and Credits
scroll down to bottom to: Other Deductions and Credits
to second one from bottom: Other Deductible expenses
you will answer "no" on next screen and then see investment expenses.
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