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Itemized Deductions Schedule-A


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Old 03-21-2016, 12:37 PM
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Misc Deduction-financial Advisory Fees

I have an investment account and pay qrtly advisory fees based upon the
value of the account to manage the account(make decisions on investments).
Are these fees deductible on line 23 schedule A subject to the 2% ADJ Gross income rule?



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Old 03-21-2016, 03:14 PM
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CORRECT; your rrtly Investment advisory fees are deductible for your federal income tax purposes as a miscellaneous itemized deduction on Sche A of your tax ,subject to the 2% ADJ Gross income rule. So unless you itemize deductions on your return you can not claim it on your 1040



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