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Turbo Tax No Help
Old 05-06-2021, 07:09 PM   #1
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Turbo Tax No Help

I've been trying to get someone to help me answer a question in Chat format. No matter how many times I type that "I am still here" they quit chat. I get the feeling they don't know the answer to the question.



I let Fidelity manage my money and this year I took a good look at the supplemental information pages. On the account fees, I have a total of $8,673.95 in fees. It's for foreign investments which is managed by Fidelity.
It states "This info is not reported to the IRS. It may assist your in tax return preparation." How does one report this?



Should I give up and not report this? This is the only thing that has me stuck.
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Old 05-06-2021, 07:34 PM   #2
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Never mind. I'll just file it the way it is w/o the expenses.
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Old 05-06-2021, 07:39 PM   #3
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Quote:
Originally Posted by CABarb View Post
I've been trying to get someone to help me answer a question in Chat format. No matter how many times I type that "I am still here" they quit chat. I get the feeling they don't know the answer to the question.



I let Fidelity manage my money and this year I took a good look at the supplemental information pages. On the account fees, I have a total of $8,673.95 in fees. It's for foreign investments which is managed by Fidelity.
It states "This info is not reported to the IRS. It may assist your in tax return preparation." How does one report this?



Should I give up and not report this? This is the only thing that has me stuck.
You enter it in TurboTax under Investment Expenses. It has no effect on your Federal return because investment expenses have not been deductible since the TCJA law passed in 2017.

It may or may not help you on your state return. It's useful for us in CA because we are able to itemize on our state return, and CA still allows this deduction.
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