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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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S corp deductions
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Elisabeth
Level 1
02-21-2020
03:10 PM
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I have an S Corp that is an investment and consulting corporation. Can the S Corp take the advisory fees charged in the investment account as a deduction on page 1?
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George4Tacks
Level 15
02-22-2020
12:16 PM
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Screen 27 > Other Information > Investment expenses
Answers are easy. Questions are hard!
Answers are easy. Questions are hard!
Elisabeth
Level 1
02-22-2020
12:40 PM
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I am confused about your reply. I know where to enter the expenses, I wanted opinions on whether or not the advisor fees which are normally misc itemized deductions for individuals, can be considered a business expense for an S corp that is in the business of investing.
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