Taxable Expenses

Christopher J. Daniel on

I believe within the past few years, Bivio subscriptions were designated as a non-deductible expense. Are transfer fees charged by financial institutions considered a deductible expense? Also, if it is a deductible expense, can this be changed after the end of the year as long as taxes have not yet been filed?

ira smilovitz on

Investment expenses such as your bivio subscription and account transfer fees should still be entered as a Portfolio Expense in bivio. While they are no longer deductible at the federal level, some states still allow these as deductions. On your K-1, these expenses should appear in box 13 with code W.

Ira Smilovitz

On Sun, Feb 20, 2022 at 9:19 PM Christopher J. Daniel via bivio.com <user*35673700001@bivio.com> wrote:

I believe within the past few years, Bivio subscriptions were designated as a non-deductible expense. Are transfer fees charged by financial institutions considered a deductible expense? Also, if it is a deductible expense, can this be changed after the end of the year as long as taxes have not yet been filed?

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