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Indeed investment fees for advice are part of miscellaneous itemized deductions subject to the 2% floor on Schedule A line 23.
"Line 23 Other Expenses
Enter the total amount you paid to produce or collect taxable income and manage or protect property held for earning income. But do not include any personal expenses."
Investment interest is listed on line 14 of Schedule and may need to come from Form 4952.
Investment interest is interest paid on money you borrowed that is allocable to property held for investment. It does not include any interest allocable to passive activities or to securities that generate tax-exempt income.
Complete and attach Form 4952 to figure your deduction.
Exception. You do not have to file Form 4952 if all three of the following apply.
Your investment interest expense is not more than your investment income from interest and ordinary dividends minus any qualified dividends.
You have no other deductible investment expenses.
You have no disallowed investment interest expense from 2011."
Form 4952 is used for the computation and limitation of investment interest. Each of the items listed in Part II of 4952 are reported as income in other parts of the return (such as Schedule B interest) .
The investment income amount that is on 4952 is only used for finding how much investment interest is disallowed on line 7 and what is the allowable deduction that will go to Schedule A from line 8.
Please ask if you need more discussion or clarification.