Miscellaneous deductions in excess of 2% of your adjusted gross income can be deducted from taxable income. Investment expenses that fall into this category include:
- Depreciation on a home computer to the extent used for investments
- Cost of computer software and on-line services used to track your investments
- Legal, accounting or advisory fees related to your investments
- Service charges on dividend reinvestment plans
- Rent on a safe deposit box used to store income-producing securities and related documents
- IRA trustees’ fees, if billed and paid separately
- Subscriptions to publications you rely upon for investment advice
- Purchase price of books related to your investments
- Travel expenses–such as trips to visit your broker or financial planner–related to your investments (unfortunately, the costs of traveling to or attending investment seminars aren’t deductible).