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Level 2
December 7, 2019
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How to allocate / override investment expenses on Form 8960? Amounts not carrying to Form 8960 worksheet + can advisory fees be deducted there if not allowable on Sch A?

  • December 7, 2019
  • 1 reply
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Best answer by sjrcpa

Only expenses that are deductible elsewhere on the return count as 8960 investment expenses.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

Only expenses that are deductible elsewhere on the return count as 8960 investment expenses.

The more I know the more I don’t know.
Level 2
December 7, 2019
Thanks for the input. Is your answer based on a reference/source that you would be kind enough to provide?