Biz Write-Offs LogoBiz Write-Offs

Brokerage desk fees and splits

Varies

Can You Write Off Brokerage Desk Fees and Splits?

Short answer: Yes: desk fees, transaction fees, and franchise fees paid to your brokerage are deductible.

Commission splits withheld by the broker aren't income if your 1099 shows your net share.

Records to keep: Keep receipts, 1099s or W-2s, a mileage log, and a note of the business purpose. W-2 employees should ask about employer reimbursement.