Can I deduct investment management fees paid for my ira account once I start rmd withdrawals?
031976
1 Best answer
jerry2000
Alumni
May 31, 2019 4:53:38 PM
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.
3 Replies
jerry2000
Alumni
May 31, 2019 4:53:38 PM
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
May 31, 2019 4:53:39 PM
Thank you, Jerry!!
macuser_22
Level 15
May 31, 2019 4:53:41 PM
The investment fees are also a miscellaneous itemized deduction first reduced by a 2% of AGI floor before any of it would be deductible.