turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

alltv
New Member

Can I deduct fees from my retirement accounts?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Can I deduct fees from my retirement accounts?

Yes, 

The management fees can be Sch A itemized deduction if paid separately with money outside of the retirement account.

First, you must be able to itemize on your taxes, and 

2nd this amount has to be paid separately from money outside of the retirement account, and 

3rd it must exceed 2% of your Adjusted gross income to be deductible. 

View solution in original post

1 Reply

Can I deduct fees from my retirement accounts?

Yes, 

The management fees can be Sch A itemized deduction if paid separately with money outside of the retirement account.

First, you must be able to itemize on your taxes, and 

2nd this amount has to be paid separately from money outside of the retirement account, and 

3rd it must exceed 2% of your Adjusted gross income to be deductible. 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question