Where do I enter Custodial fees for my Roth IRA?

[jackjanjackjusti]

Enter Expenses like safe deposit?

[Hal_Al · Accepted solution]

If your IRA fee is taken out of your account then it is not deductible, because it's being taken out of money that hasn't been taxed yet.

Some Banks/financial institutions let you pay the fee separately from your checking acct. In that case it is deductible, but it's an itemized misc. deduction subject to the 2% of AGI threshold. The hidden fee in a mutual fund , like the 1% management fee & expenses, is never deductible, because it is reflected in the NAV price and eventually reduces the capital gain.

Safe deposit box fees go in the same place.

[PaulaM]

Custodial fees are entered as an itemized deduction under the Retirement and Investments, Other Investment Expense section.