Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 4, 2019 3:23:17 PM

Can I deduct retirement account management fees?

0 1 1027
1 Best answer
Expert Alumni
Jun 4, 2019 3:23:19 PM

No. Retirement account management fees are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017.

In 2017 and prior tax years, the fees were eligible for deduction under the 2% rule as an investment expense.

1 Replies
Expert Alumni
Jun 4, 2019 3:23:19 PM

No. Retirement account management fees are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017.

In 2017 and prior tax years, the fees were eligible for deduction under the 2% rule as an investment expense.