Are brokers fees for managing an account tax deductible?
Are brokers fees for managing an account tax deductible
- Anonymous1 month ago
No, there are not. The 2% section of the schedule A was removed in 2018.
The IRS issued a ruling on this and said management fees cannot be added to the basis, so you are out of luck. I know Steven F says you can, but he's wrong as usual.
- STEVEN FLv 71 month ago
Not directly. In some cases, the amount of fees MAY be used in computing gains or loses when you liquidate the investment.
Update to anonymous LIE about what I didn't say: I absolutely DID NOT make the false claim it says I did. It routinely accuses anyone that doesn't believe it knows everything of being wrong , ESPECIALLY when the other person is right more than it is.