Are the Depository Trust Company (DTC) (mirror) fees paid on an American depositary receipts (ADR) tax-deductible (mirror)?
I am a US tax resident owning some ADRs (e.g., AXAHY) via a US brokerage account.
asked Oct 8, 2022 at 23:54
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Is it really necessary to litter so many useless links? Just wondering.– littleadvOct 9, 2022 at 19:04
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@littleadv there is a fair amount of non-obvious concepts/knowledge, and it helps avoid "do more research" comments. Personally I like it in case I want to refresh my memory.– Franck DernoncourtOct 9, 2022 at 19:07
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Yeah, my point is that a) on this forum all these terms are pretty trivial and b) there's nothing special in this specific fee and your question would be more useful to others if it was more generic.– littleadvOct 9, 2022 at 19:08
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@littleadv this US-specific knowledge may not be trivial to individuals unfamiliar with the US system. Thanks, I didn't know the answer wouldn't be specific to ADR. Also, I have received a fair amount of "too broad" close votes in the past, so I'm trying to be as specific as I can.– Franck DernoncourtOct 9, 2022 at 19:16
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1 Answer
No, the investment expenses itemized deduction (subject to 2% AGI limit) was eliminated in TCJA. It may come back in 2026 when (if) the provisions of TCJA for individual taxpayers expire. Even then it would unlikely to be useful due to the 2% AGI limit. Read more here.
answered Oct 9, 2022 at 19:02
