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[[In 1996, I subscribed for a stock newsletter. In a few months the newsletter company went out of
business. I had paid a year's subscription.

Can I deduct the subscription fees, which is substantial???]]

Generally, stock newsletters and the like are allowable as a miscellaneous itemized deduction (Sch A), subject to the 2% floor. So if you itemize your deductions, and this expenses (plus your other misc. itemized deductions) are greater than 2% of your AGI, then you may have a deduction.

For additional information, see IRS Publication 550.

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