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Are Investment Expenses Deductible on Federal Taxes?

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Money Talk > Taxes

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raemart
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Are Investment Expenses Deductible on Federal Taxes?  Reply with quote  

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?
Post Sat Apr 06, 2013 11:54 pm
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oldguy
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Yes, you pay tax only on 'net'.
Post Sun Apr 07, 2013 12:23 am
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raemart
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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
Post Fri Apr 12, 2013 2:29 am
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