Stock broker fees

Forum|Forum|7 years ago
June 3, 2019
4 replies
72 views

where do you report in turbo stock broker fees based on performance

TurboTax Premier Windows

Best answer by MargaretL

Broker's fees based on performance or other advisory/investment fees are entered as investment expenses:

Federal Taxes
Deductions & Credits
Scroll down to Retirement and Investments
Select Other Investment Expenses

MargaretLAnswer

Level 12

Broker's fees based on performance or other advisory/investment fees are entered as investment expenses:

Federal Taxes
Deductions & Credits
Scroll down to Retirement and Investments
Select Other Investment Expenses

sbucy1

Level 2

These instructions seem to be contradictory with the information in the TurboTax dialog itself. TT says you CANNOT enter broker fees as deductible fees for 2019. This "help" seems to be no longer current - and hecse, USELESS! - sgb

RobertG

Level 12

Investment fees, custodial fees, trust administration fees, and other expenses you paid for managing your investments that produce taxable income are miscellaneous itemized deductions and are no longer deductible.

But your state may allow that deduction so include it if you itemize.

@sbucy1

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