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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?

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New Member

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

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New Member

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

View solution in original post