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M
m221910
February 21, 2021
Question

Are Brokerage Fees deductible and if yes, are they part of the standard deduction or a separate input?

  • February 21, 2021
  • 2 replies
  • 0 views
No text available

2 replies

ColeenD3
ColeenD3
February 21, 2021

No. Starting Jan. 1, 2018, under the new Tax Cuts & Jobs Act, investment advisory fees (including account management fees) are NOT tax deductible, regardless of which funds are used to pay them.

    M
    Mike9241
    February 21, 2021

    not deductible for federal purposes but some states have different rules that could allow the deduction.  so what is your resident state? 

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