topic Re: Brokerage expense in Get your taxes done using TurboTax

Brokerage expense

lennar0719 — Tue, 03 Mar 2026 18:21:12 GMT

My brokerage statement has a line for Custodial & Management Fees. The page states Total expenses available for allocation to tax exempt income.

Where do I enter this in Turbo Tax?

I have always entered fees for IRA accounts in other investment expense, but not even sure that is correct?

Any help would be appreciated

Nadine

Re: Brokerage expense

Bsch4477 — Tue, 03 Mar 2026 18:39:25 GMT

Those fees are not deductible on your federal return but may be deductible on your state return subject to restrictions. If the fees are paid within a retirement plan they are not deductible by either.

Re: Brokerage expense

lennar0719 — Tue, 03 Mar 2026 18:41:56 GMT

Since the state return pulls info from the Federal section should I enter in other investment expense?

Re: Brokerage expense

lennar0719 — Tue, 03 Mar 2026 18:51:40 GMT

Sorry, I figured it out. Thanks for your help.