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New Member
posted Jun 4, 2019 12:27:32 PM

Can I deduct annuity management fees

Last year I was able to deduct the rider fees associated with my annuities. this year I can't find out where TTax ask the question.  I know it has a specific IRS pamphlet but can't seem to find it

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1 Best answer
New Member
Jun 4, 2019 12:27:34 PM

Yes, you can.

Go to Federal Taxes -> Deductions & Credits -> I'll Choose What I Work On/Jump to Full List ->Scroll down to Retirement and Investments, and choose Other Investment Expenses or Interest Expenses. See attachment.

NOTE: You must be itemizing and can only deduct the expenses greater than 2% of your AGI. But enter them here anyway and let the software determine whether or not you can take it.

1 Replies
New Member
Jun 4, 2019 12:27:34 PM

Yes, you can.

Go to Federal Taxes -> Deductions & Credits -> I'll Choose What I Work On/Jump to Full List ->Scroll down to Retirement and Investments, and choose Other Investment Expenses or Interest Expenses. See attachment.

NOTE: You must be itemizing and can only deduct the expenses greater than 2% of your AGI. But enter them here anyway and let the software determine whether or not you can take it.