In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut and Jobs Act, these expenses aren’t deductible through 2025 if they’re considered expenses for the production of income. But they are deductible if they’re considered trade or business expenses. (For tax years before 2018, production-of-income expenses were deductible, but were included in miscellaneous itemized deductions, which were subject to a 2%-of-adjusted-gross-income floor.)  The deductibility of portfolio management and related invesmtnet expenses requires determining if you’re an investor or a trader — and be aware that it’s more advantageous (and difficult) to qualify for trader status. Engaged in a Trade or Business To qualify, you must be engaged in a...