AnnetteB6
Employee Tax Expert

After you file

For 2019, investment management fees are not deductible on your Federal tax return.  This category of deductions was suspended for tax years 2018 through 2025 by the Tax Cuts and Jobs Act.  

 

There is still an entry in TurboTax for the deductions subject to the 2% of Adjusted Gross Income limit because there are some states that still recognize the deduction.  Entering the information in your return will not affect your Federal refund or balance due.

 

See the following TurboTax article for more information:  What is the 2% rule?

 

 

@gordon-3141

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