Monday November 23, 2009 08:30
How do I deduct investment advisory fees paid for professional investment services on my 2008 federal taxes?
Posted by Business Plan as Investment
What form do I use?
Is there a limit to the fees (I payed about $8K for investment fees)?
Do the fees get bundled into other “deductoins” so that I have to meet a threshold of expenses?
Thanks all!
Related posts:
Tags: 2008, advisory, deduct, federal, fees, Investment, paid, Professional, Services, taxes
2 Responses to How do I deduct investment advisory fees paid for professional investment services on my 2008 federal taxes?
bostonianinmo
November 23rd, 2009 at 9:04 am
Investment fees are a miscellaneous itemized deduction subject to the 2% AGI limit. Claim them on Schedule A.
v b
November 23rd, 2009 at 9:09 am
If you have any tax-exempt income, you must prorate the fees between taxable and tax-exempt as only fees on taxable investments can be itemized.