Are Investment Expenses Deductible on Federal Taxes? |
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raemart
Full Member
Cash: $ 18.90
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Location: USA |
Are Investment Expenses Deductible on Federal Taxes? |
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While doing my taxes this year... today, it indicates I can claim 'investment expenses' when I itemize my deductions. Does that mean I can claim my trade fees and/or what it cost to buy a trade? I have only made 'free trades' through my brokerage but if I did pay the commission(s), would it be deductible?
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Sat Apr 06, 2013 11:54 pm |
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oldguy
Senior Member
Cash: $ 751.85
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Location: arizona |
Yes, you pay tax only on 'net'.
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Sun Apr 07, 2013 12:23 am |
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raemart
Full Member
Cash: $ 18.90
Posts: 90
Joined: 03 Jun 2012
Location: USA |
Thanks Tim, Wow! you out did yourself on that explanation! I understand!
This calculation will come in very handy about 30 years from now when I sell. lol
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Fri Apr 12, 2013 2:29 am |
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