Where do I list expenses that I had toward our Stock investment? For example, we paid $6,000 towards a program that gives classes and advice about stock market investment (2024)

• TurboTax Premier Online

‎June 1, 201912:01 AM

The IRS clearly states in Publication 550 that investment seminar-related expenses are not tax deductible as an investment expense. This includes seminars that you attend to learn more about investing or those designed to encourage you to purchase a certain kind of investment. Expenses incurred to attend a stockholder meeting for a company whose stock you own or are considering purchasing also are considered nondeductible investment seminar expenses.

Some other types of investment expenses are tax deductible. A personal computer and any related peripherals, such as scanners and printers, are considered deductible investment expenses. Investing magazine subscriptions also qualify as deductible investment expenses, as do legal and accounting expenses that you pay for investment advice.

Allowable deductions for investment expenses are claimed on Schedule A as miscellaneous itemized deductions. Your total miscellaneous itemized deductions must exceed 2 percent of your adjusted gross income to be deductible, and then only the amount exceeding that 2 percent threshold qualifies as a tax deduction. Most taxpayers do not have enough allowable expenses to exceed that amount.

For additional information see: IRS Pub 550 Investment Interestand Expenses

The IRS clearly states in Publication 550 that investment seminar-related expenses are not tax deductible as an investment expense. This includes seminars that you attend to learn more about investing or those designed to encourage you to purchase a certain kind of investment. Expenses incurred to attend a stockholder meeting for a company whose stock you own or are considering purchasing also are considered nondeductible investment seminar expenses.

Some other types of investment expenses are tax deductible. A personal computer and any related peripherals, such as scanners and printers, are considered deductible investment expenses. Investing magazine subscriptions also qualify as deductible investment expenses, as do legal and accounting expenses that you pay for investment advice.

Allowable deductions for investment expenses are claimed on Schedule A as miscellaneous itemized deductions. Your total miscellaneous itemized deductions must exceed 2 percent of your adjusted gross income to be deductible, and then only the amount exceeding that 2 percent threshold qualifies as a tax deduction. Most taxpayers do not have enough allowable expenses to exceed that amount.

For additional information see: IRS Pub 550 Investment Interestand Expenses