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Hi - I pay an investment advisor quarterly to manage my retirement and on-retirement investments. May I deduct these expenses from my state income tax (California)

 
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DavidD66
Expert Alumni

Hi - I pay an investment advisor quarterly to manage my retirement and on-retirement investments. May I deduct these expenses from my state income tax (California)

Yes, but only if you itemize your deductions on your California tax return instead of taking the standard deduction.  

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