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ginozaa
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Can I deduct investment management fees paid for my ira account once I start rmd withdrawals?

 
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Can I deduct investment management fees paid for my ira account once I start rmd withdrawals?

If the IRA fees are paid from within the IRA, they are not deductible. It doesn't matter whether you are taking a RMD or not.
 To be deductible, IRA management fees have to be paid with money that has been taxed.

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3 Replies

Can I deduct investment management fees paid for my ira account once I start rmd withdrawals?

If the IRA fees are paid from within the IRA, they are not deductible. It doesn't matter whether you are taking a RMD or not.
 To be deductible, IRA management fees have to be paid with money that has been taxed.
ginozaa
New Member

Can I deduct investment management fees paid for my ira account once I start rmd withdrawals?

Thank you, Jerry!!

Can I deduct investment management fees paid for my ira account once I start rmd withdrawals?

The investment fees are also a miscellaneous itemized deduction first reduced by a 2% of AGI floor before any of it would be deductible.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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