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lunacypr
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Can I report outside IRA management fees in "Investment Advisor Fees" under "Investment Expenses" for benefit on a California state return? (I know not federal deduction)

I have a financial advisor who manages both an individual investment account and a separate IRA account. I added "Investment Advisor Fees" for the individual account, but I'm wondering if I should also include those for the IRA account since I paid the fees on both accounts in 2024. The possible difference is that I'm not retired so I did NOT report any income in 2024 from the managed IRA account.
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1 Reply

Can I report outside IRA management fees in "Investment Advisor Fees" under "Investment Expenses" for benefit on a California state return? (I know not federal deduction)

You can include investment fees for your IRA if paid for by funds outside of your IRA. 

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