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How do I deduct investment advisory fees paid on my account (not an IRA)...is it really subject to the 2% AGI?


Wanting clarification...these advisory fees are similar to broker commissions, and I really don't want them to be subject to the 2% AGI rule ... any help would be appreciated

See here's the difference, broker fees, commissions and such would be added to your cost basis. Advisory fees are deducted on Schedule A subject to the 2% AGI rule
Per IRS
http://www.irs.gov/publications/p550/ch0...
You cannot deduct any broker's fees, commissions, or option premiums you pay (or that were netted out) in connection with the sale of investment property. They can be used only to figure gain or loss from the sale. See Reporting Capital Gains and Losses, in chapter 4, for more information about the treatment of these sale expenses.


Investment counsel and advice. You can deduct fees you pay for counsel and advice about investments that produce taxable income. This includes amounts you pay for investment advisory .

Unfortunely, for you, this is the investment advisory fees that you put on your schedule A that is limited to the 2% AGI rule.

sorry they are subject to the 2% floor.

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