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I have my broker account managed by an advisor. He
charged me 20% gain as his performance fee. He sent me
this performance fee invoice quarterly. Last year, I
paid him about $11500 for the performance fee. Where
can I deduct this management fee in my tax form ??

- james
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[[I have my broker account managed by an advisor. He
charged me 20% gain as his performance fee. He sent me
this performance fee invoice quarterly. Last year, I
paid him about $11500 for the performance fee. Where
can I deduct this management fee in my tax form ??]]

As a miscellaneous itemized deduction, subject to the 2% AGI floor. So check out Schedule A.

And for that type (and size) of fee, I hope that your advisor is making you TONS of money.

TMF Taxes
Roy
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Just curious about something, if he loses any of your money does he refund 20% ? I should have your problems
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Yes, I thought of using the schedule A to deduct the money that I paid to my account advisor. But, he told me that I can use the schedule C to deduct the fee that I paid to him. By using schedule C, I can fully deduct all the fee that I paid him without the 2% AGI floor (in scheduld A). Am I missing anything here ??

Thank you for your concerns. So far, he is making big money for me....> 100% in 8 months.
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[[I have my broker account managed by an advisor. He
charged me 20% gain as his performance fee. He sent me this performance fee invoice quarterly. Last year, I paid him about $11500 for the performance fee. Where
can I deduct this management fee in my tax form ??]]
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[As a miscellaneous itemized deduction, subject to the 2% AGI floor. So check out Schedule A.

And for that type (and size) of fee, I hope that your advisor is making you TONS of money.

TMF Taxes
Roy]
-----------------------------------------------------
Yes, I thought of using the schedule A to deduct the
money that I paid to my account advisor.
But, he told me that I can use the schedule C to
deduct the fee that I paid to him. By using
schedule C, I can fully deduct all the fee that I
paid him without the 2% AGI floor (in scheduld
A). Am I missing anything here ??

Thank you for your concerns. So far, he is
making big money for me....> 100% in 8 months.

- james
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