Legal Question in Tax Law in California

Investment Expense deductions
In a tax newsletter that I regularly receive, an editor stated that one MAY be able to deduct directly-related investment expenses (newsletters, investment consulars, etc,) directly from the resultant gain(or loss) in the stock, etc., as reported on Schedule D; rather than take such a deduction on Schedule B--and then have the deductions subject to the limitations on Schedule B. This would be the approach taken if the investment were, for example, a real estate investment, but how does the IRS view this approach if applied to stocks, bonds, mutual funds, etc???

Asked on 3/24/03, 10:47 pm

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Re: Investment Expense deductions

You are allowed to deduct investment expenses as miscellaneous itemized deductions on Schedule A (Form 1040).

Answered on 3/25/03, 4:07 pm

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