“Your reasons need to be outstanding, and relevant documentation and proof must be provided,” said Rob Burnette, professional tax preparer at Outlook Financial Center in Troy, Ohio.
“When it comes to low-risk investments, it all depends on your personality, risk tolerance, objectives and investment horizons,” says Lori Gross, lead investment advisor at Outlook Financial Center.
Rob Burnette, an independent advisor and tax return preparer at Outlook Financial Center in Troy, Ohio, who is registered with the IRS, said that for taxpayers who take the DIY approach and "blindly use software," basic human error is the biggest pitfall.
“The documents need to be reviewed to determine if they will change the tax calculations,” said Rob Burnette, CEO at Outlook Financial Center in Troy, Ohio.
“You might want to wait for those 1099-Bs because they can have a significant impact on your tax return,” said Rob Burnette, chief executive and investment advisor representative at Outlook Financial Center.
Rob Burnette, CEO of the Outlook Financial Center, said your workspace must meet certain IRS guidelines to qualify for the deduction.