turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

ideutsch
New Member

I have an IRA with TIAA-CREF Trust. There is a fee associated with this, I believe I can deduct the fee, but I don't see that in the list of deductions. So I just add it as "other"

 
This feature is pending. Thanks for your patience.
Didn't get the answer you wanted? Our digital assistant can help you.
1 Best answer

Accepted Solutions
bwa
Alumni
Alumni

I have an IRA with TIAA-CREF Trust. There is a fee associated with this, I believe I can deduct the fee, but I don't see that in the list of deductions. So I just add it as "other"

If it is paid by you outside the IRA, it would be a miscellaneous itemized deduction. Miscellaneous itemized deductions are only available if you qualify to itemize and only to the extent that they exceed 2% of your Adjusted Gross Income.They are under the deductions and credits tab, then at the bottom of the page for "other deductions and credits."  Turbotax explains the 2% rule at this site.


View solution in original post

4 Replies
bwa
Alumni
Alumni

I have an IRA with TIAA-CREF Trust. There is a fee associated with this, I believe I can deduct the fee, but I don't see that in the list of deductions. So I just add it as "other"

Who pays the fee - you, or is it charged to the IRA?
ideutsch
New Member

I have an IRA with TIAA-CREF Trust. There is a fee associated with this, I believe I can deduct the fee, but I don't see that in the list of deductions. So I just add it as "other"

It is a management fee that I pay to the Trust Co
ideutsch
New Member

I have an IRA with TIAA-CREF Trust. There is a fee associated with this, I believe I can deduct the fee, but I don't see that in the list of deductions. So I just add it as "other"

It is paid by me, so I believe it is an investment expense
bwa
Alumni
Alumni

I have an IRA with TIAA-CREF Trust. There is a fee associated with this, I believe I can deduct the fee, but I don't see that in the list of deductions. So I just add it as "other"

If it is paid by you outside the IRA, it would be a miscellaneous itemized deduction. Miscellaneous itemized deductions are only available if you qualify to itemize and only to the extent that they exceed 2% of your Adjusted Gross Income.They are under the deductions and credits tab, then at the bottom of the page for "other deductions and credits."  Turbotax explains the 2% rule at this site.


message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies
v