DaveF1006
Expert Alumni

State tax filing

California investment fees that are currently deductible conformed with the federal investment fees deduction when these were deductible on the federal tax return. According to IRS publication 529, Investment fees, custodial fees, trust administration fees, and other expenses you paid for managing your investments that produce taxable income are miscellaneous itemized deductions and are no longer deductible but ARE deductible on your California state tax return.

 

In answer to your question, this includes custodial fees, trading fees, etc.  As far as management fees within a retirement account, this Turbo Tax post states Management fees paid from your IRA account have never been deductible on your federal tax return thus are not deductible on your California return. Separately-paid management fees however were deductible thus should be deductible on your California return. Separately-paid means you were billed and paid these fees separately rather than have them paid by your account.

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