DawnC
Expert Alumni

State tax filing

No, this question is for a possible state credit.   But even for a state credit, the fee would need to be separately paid.  

 

Management fees paid from your IRA account have never been deductible on your federal tax return.

 

In addition, separately-paid IRA management fees are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017.

 

In 2017 and prior tax years, separately-paid IRA management fees were eligible for deduction under the 2% rule as an investment expense.   And some states still allow this deduction.  

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