Are brokers fees for managing an account tax deductible?

Are brokers fees for managing an account tax deductible

2 Answers

  • Anonymous
    1 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.

  • 1 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.

Still have questions? Get answers by asking now.