Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
If I make more than $2400 in my stock investments, Can I claim the EIC?
Also can I claim the transaction fees that my Broker charged throughout the year in my taxes?
Print the post Back To Top
No. of Recommendations: 0
If I make more than $2400 in my stock investments, Can I claim the EIC? Also can I claim the transaction fees that my Broker charged throughout the year in my taxes?

As our recently departed President might say, it depends on what "make" means. If you had investment income (the total of lines 8a, 8b, 9, and 13 of the 1040) of more than $2400 you are ineligible for the EIC in 2000.

I'm assuming the transaction fees are broker's commissions. The add to your basis and reduce your proceeds, thus affecting the amount of capital gain or loss that you recognize. You don't take them as a separate deductions.

TMF ExRO
Phil Marti
Print the post Back To Top