Can an individual (not self-employed) claim investment expenses on an accrual basis rather than cash basis? Can I deduct Q4 2016 fees paid in Jan 2017 against 2016 income?
Can an individual (not self-employed) claim investment expenses on an accrual basis rather than cash basis? Can I deduct Q4 2016 fees paid in Jan 2017 against 2016 income?
Thank you for your question.
Investment expenses must be claimed on cash basis, so you will claim which was paid in 2016.
Can an individual (not self-employed) claim investment expenses on an accrual basis rather than cash basis? Can I deduct Q4 2016 fees paid in Jan 2017 against 2016 income?
Thank you for your question.
Investment expenses must be claimed on cash basis, so you will claim which was paid in 2016.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.
Sign In
Canada (English)
EN
