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Bank charges deductible ?

Posted: Wed Jul 11, 2018 10:03 pm
by NonDom41
If you receive interest payments from an investment portfolio at a foreign bank you have to report these interest payments in your income tax return. This is clear.

However, the question is :

The bank charges you fees for running your portfolio. Can you deduct these fees from the interests you report in your tax return ?

Re: Bank charges deductible ?

Posted: Thu Jul 12, 2018 12:30 pm
by pawncob
No. (It's unfair I know, but that's taxes for you)