If you have investment-related income, it's likely that you'll have at least a few investment-related expenses as well. Unfortunately, many taxpayers aren't able to deduct these expenses because most of them are classified as miscellaneous itemized deductions, which are only deductible to the extent that they exceed 2 percent of your adjusted gross income.

However, if you have interest expenses related to your investments, it may be a different story. Read on to see how to deduct:

• investment interest
• other expenses related to investments

Claiming your deduction. Your investment expenses are included on Line 22 of Schedule A, Itemized Deductions. If you don't have room to list the categories of expenses you paid on the dotted lines following Line 22, you can attach additional sheets of paper to your return.