Thursday, December 15, 2011

Management fees that are taken directly from my brokerage account, how can i deduct them?

on schedule A under miscellaneous itemized deductions. However they are subject to a 2% floor based on your adjusted gross income. the IRS used to allow brokerage fees to offset capital gains but have put an end to that





so... for example: if your AGI was $50,000, the 2% floor would be $1000. so you would only be able to deduct your management fees above in excess of $1000.

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