@jgejweitz In short to reply to your specific question, No - investment advisory fees or comparable expenses such as ADR fees are not only not deductible at the Federal level but also not deductible at the New Jersey income filing level.
For reference - (and for future tax payers of New Jersey seeking information who chance upon this Q&A) , here are the following deductible expenses allowed on NEW JERSEY income tax filing:
Alimony and Separate Maintenance Payments Payments of alimony or for separate maintenance are deductible by the payer if reported as income by the payee. Y ou can deduct any court-ordered alimony or separate maintenance payments you made. Do not deduct payments for child support.
Medical Expenses to the extent not reimbursed or covered by insurance - Note: Self-Employed Health Insurance Deduction (see text below) Unreimbursed medical expenses in excess of 2% of gross income; qualified medical savings account contributions; and for the “self-employed,” qualified health insurance costs. You can deduct certain medical expenses that you paid during the year for yourself, your spouse or domestic partner, and your dependents. However, you cannot deduct expenses for which you were reimbursed. Only expenses that exceed 2 percent of your income can be deducted. Some examples of allowable medical expenses are: payments for doctor's visits, dental care, hospital care, eye examinations, eyeglasses, medicine, and x-rays or other diagnostic services directed by your physician or dentist. Insurance premiums, including amounts paid under Social Security for Medicare, can be used as medical deductions. You also can deduct transportation costs that are allowable on your federal return. If you deduct medical expenses in one year and are reimbursed in the next, you must include the reimbursement as income in the year you receive the payment. If you are considered self-employed for federal tax purposes, or you received wages in 2019 from an S corporation in which you were a more-than-2% shareholder, you can deduct the amount you paid during the year for health insurance for yourself, your spouse/civil union partner or domestic partner, and your dependents. Your deduction cannot be more than the amount of your earned income, as defined for federal tax purposes, from the business under which the insurance plan was established.
Property Tax Deduction/Credit If you were a New Jersey homeowners or tenants, you may qualify for either a property tax deduction or a refundable property tax credit. More information is available on the credit/deduction .
Qualified Conservation Contributions You can deduct any contribution you made for conservation purposes of a qualified real property interest in property located in New Jersey. The deduction is the amount of the contribution allowed as a deduction in calculating your taxable income for federal purposes.
Health Enterprise Zone Deduction If you provide primary care services in a qualified medical or dental practice you own that is located in or within five miles of a designated Health Enterprise Zone (HEZ), you may be able to deduct a percentage of the net income from that practice. Partners and S corporation shareholders of a qualified practice enter the HEZ deduction amount listed on Schedule NJK-1, Form NJ-1065, or Schedule NJ-K-1, Form CBT-100S. Sole proprietors must calculate the amount of their HEZ deduction. See Technical Bulletin TB-56 , Health Enterprise Zones, for eligibility requirements and how to calculate the HEZ deduction.
Alternative Business Calculation Adjustment If you have losses in certain business-related categories of income, you may be able to use those losses to calculate an adjustment to your taxable income. In addition, you can carry forward unused losses in those categories for up to 20 years to calculate future adjustments. The categories of income that are included in the adjustment calculation are: net profits from business; net gains or net income from rents, royalties, patents, and copyrights; distributive share of partnership income; and net pro rata share of S corporation income. Complete Schedules NJ-BUS-1 and NJ-BUS-2 to calculate the amount of the adjustment or loss carryforward.
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