BobB7
New Member

Retirement tax questions

If they were deducted from your IRA you cannot deduct them on this year's tax return.  But since they reduce the funds in the IRA you will have less income to pay tax on when you eventually withdraw funds from your IRA.  In the future, see if you can pay those fees directly from taxable funds, which would allow a current deduction (to the extent they exceed 2% of income and if you itemize).

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