Broker fees on schedul c?

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  • sdarave
    Member
    • Dec 2014
    • 72

    #1

    Broker fees on schedul c?

    Client with a small business invested inheritance in 2009. Broker management fees for 2018 were $1200 more or less. Could she claim those fees as commissions and fees on her schedule C?
  • Lion
    Senior Member
    • Jun 2005
    • 4699

    #2
    Doesn't sound related to her biz from your description. No. They were A Misc 2% in prior years, right? Even a Sch C is disregarded, so things go where they would go, so no.

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    • Burke
      Senior Member
      • Jan 2008
      • 7068

      #3
      Did client invest the inheritance in the business? In the business' name? Sounds like it is in a personal stock/bond/mutual fund account.

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      • ATSMAN
        Senior Member
        • Jul 2013
        • 2415

        #4
        I would first look at the account registration. Is it registered to his SS or business EIN?
        Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

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        • sdarave
          Member
          • Dec 2014
          • 72

          #5
          Thanks to everyone for your opinions. I declined to use the deduction in Sch C.
          24 days and counting.............

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