turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
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"

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

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.


Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question