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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?

tim-singleton
Level 1
 
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sjrcpa
Level 15

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

The more I know, the more I don't know.

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4 Comments 4
sjrcpa
Level 15

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

The more I know, the more I don't know.
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tim-singleton
Level 1
Thanks for the input. Is your answer based on a reference/source that you would be kind enough to provide?
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sjrcpa
Level 15
It probably is but I do noot have a cite.
The more I know, the more I don't know.
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sjrcpa
Level 15
Here is another discussion https://www.taxprotalk.com/forums/viewtopic.php?f=8&t=14797
The more I know, the more I don't know.
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