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Which Investment Expenses Are Tax Deductible?

Last update on: Jun 22 2020

As this article explains, after tax reform there aren’t too many investment expenses that are deductible on your individual income tax return. That can be a blow to people who were paying annual fees for financial planning and other investment services. But there are a few investment-related expenses you might be able to deduct.

Prior to the passage of the TCJA, taxpayers were allowed a tax deduction for certain expenses known as “miscellaneous itemized deductions.” Miscellaneous itemized deductions included expenses such as fees for investment advice, IRA custodial fees, and accounting costs necessary to produce or collect taxable income. For tax years 2018 to 2025, these deductions have been eliminated.




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