Originally Posted by
fish
Forest
Yes fish my accountant came with an identical story about interest deductability.
Well we are on the subject about expenses for share investing. I also discussed if I could deduct for tax other expenses as a long term share investor and the advice was NO.
Does this sounds right to others. If you invest in shares long term to create a dividend for income cost like computers, travel to meetings, brokerage, magazines, newspapers etc is not tax deductable.
If I operate any other enterprice to create an income I believe you can deduct these very genuine expenses.
What expenses apart from possible interest do other long term share investors claim??
Cheers, Forest