cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

Can I deduct management fees from a retirement fund account? The retirement account has both Roth & IRA amounts for spouse & I. We are not withdrawing yet (but soon)

If I can't deduct those fees yet, will I ever be able?

1 Best answer

Accepted Solutions
Level 1

Can I deduct management fees from a retirement fund account? The retirement account has both Roth & IRA amounts for spouse & I. We are not withdrawing yet (but soon)

This is considered "Investment Advisory Fees" and is deductible on line 23 of schedule A. Note that only amounts in excess of 2% of your adjusted Gross Income (1040 line 38) will actually be included in your total itemized deduction
1 Reply
Level 1

Can I deduct management fees from a retirement fund account? The retirement account has both Roth & IRA amounts for spouse & I. We are not withdrawing yet (but soon)

This is considered "Investment Advisory Fees" and is deductible on line 23 of schedule A. Note that only amounts in excess of 2% of your adjusted Gross Income (1040 line 38) will actually be included in your total itemized deduction