Replies to post #92062 on Hartcourt Companies (fka HRCT)

[MisterEC]

Oops

 
 Investment-related miscellaneous itemized deductions  
 Miscellaneous itemized deductions are generally limited to the amount of expenses over and above 2% of your adjusted gross income (AGI). In other words, there’s a floor below which you lose the ability to deduct.  
  
 Here’s an example: Say your AGI is $75,000 and you have $3,000 in miscellaneous itemized deductions. Your 2% AGI floor in this case is $1,500 (2% of $75,000), so you lose the first $1,500 of the $3,000 you claim, but get to deduct the remaining $1,500.  
  
 There are a number of miscellaneous itemized deductions not related to investing that you may already be eligible for—tax preparation fees, union dues, cost of uniforms required for work, job-hunting expenses, unreimbursed employee business expenses and so on.  
  
 Here’s a list of investment-related expenses you could add to the rest:  
  
  
 Fees for investment counsel and advice, including subscriptions to financial publications  
 IRA or Keogh custodial fees, if paid by cash outside the account  
 Software or online services you use to manage your investments  
 Safe deposit box rent, if you use the box to store certificates or investment-related documents  
 Transportation to your broker’s or investment adviser’s office  
 Attorney, accounting or clerical costs necessary to produce or collect taxable income  
 Charges for automatic investment services and dividend reinvestment plans  
 Costs to replace lost security certificates  
  
 Items you can’t deduct as an investment-related expense include:  
  
  
 Trading commissions—these are "capitalized" to increase your cost basis and/or reduce your taxable sales proceeds  
 The costs of traveling to attend a shareholder’s meeting  
 Investment advisory fees related to tax-exempt income—you generally need to prorate these fees based on the portion of tax-exempt investment income vs. total taxable investment income  
 Borrowing costs associated with life insurance  
 

http://www.schwab.com/public/schwab/research_strategies/market_insight/financial_goals/tax/investment_expenses_whats_tax_deductible.html
Once again, he is right on with good information.

What do you think about a Vegas meeting, Bar?