Question for Abezon

[Glasso]

What is the name of your state?What is the name of your state? PA

In your recent post to "nostalgic" you state that, "fees paid for investment advice (what stocks to buy/sell . . .) are deducted as a miscellaneous deduction" on Schedule A.

For clarification, I am a subscriber to Jim Cramer's Action Alert Plus. For $350/yr. he e-mails his subscribers anytime he transacts a buy or a sell. He does not "tell" us to buy this or that, but simply tells us what he is doing in his own portfolio.

Would that $350 subscriptions fee qualify as a miscellaneous expense deduction?

Thank you for your time.

 

[abezon]

The fee for a broker's advice on what stocks to buy is deductible, but a subscription to a general magazine on investing is not. Your fees are probably deductible, since the email is not generally circulated & contains specific purchase advice.