How you guys are deducting borrow fees?

Investment Analysis Clubs Jim Royal
1

It looks like you cannot deduct it from the cost of the securities. I have substantial borrow fees, and taking standard deduction. Any ideas?

2

I think it’s completely impossible now. I researched it last year at some length. I believe the 2017 tax cut act changed the deductibility of these expenses, IIRC. I’d be happy to be proven wrong, however.

Jim

1 Like
3

Thanks. I also spend some time, as I have over 2000 borrow, and looks like that I cannot deduct that. There are other fees like ADR fees, GLD/ SLV, FBTC (fidelity bitcoin fees), etc. All are treated as miscellaneous fees and not deductible.

The tax treatment on GLD/ SLV is another eye opener. For those interested GLD long term gain is still taxed at 28%. SLV gets a mix of 60%/40% and mark-to-market…