2007-03-14 07:18:12 · 2 answers · asked by raphaels_covenant 1 in Business & Finance ➔ Investing
I gave an incorrect answer earlier reguarding SLV taxes and I hope this one is not incorrect also.
I do not believe they are deductable against capital gains. There is a section on Schedule A--miscellaneous deductions--where you are allowed to take them. But they have to total more than 2% of your adjusted gross income to be allowed and only to the extent that they are greater unless you are a professional trader. Then they are considered a business expense on Schedule C.
2007-03-14 09:55:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I know subscriptions to things like The Motley Fool are deductible against capital gains. I would assume that trading software would be too.
2007-03-14 07:25:11 · answer #2 · answered by Faye H 6 · 0⤊ 0⤋
Yes, they are.
2007-03-14 07:21:28 · answer #3 · answered by Ranto 7 · 0⤊ 0⤋