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Level 1
April 8, 2022
Question

1040

  • April 8, 2022
  • 2 replies
  • 12 views

INVESTMENT EXP ON CONSOLIDATED STATEMENT WILL IT BE ELIGIBLE FOR SCH A DEDUCTION? IT SHOWS ON STATEMENT AS FEES AND EXPENSES MISC FEES

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2 replies

Camp1040
Level 10
April 8, 2022

IS IT CONSIDERED A MISC. ITEMIZED DEDUCTION SUBJECT TO 2% OF ADJUSTED GROSS INCOME............No for the federal, maybe for your state return.

sjrcpa
Level 15
April 9, 2022

There are no misc itemized deductions subject to 2% for 2021 federal tax returns.

The more I know the more I don’t know.