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New Member
posted Mar 2, 2022 8:06:47 AM

For 2021, i nvestment management fees are not deductible on federal returns, but are they deductible on California returns?

I am not itemizing deductions on federal taxes.

0 2 3082
2 Replies
Level 15
Mar 2, 2022 9:09:20 AM
Expert Alumni
Mar 2, 2022 9:11:32 AM

Investment management fees are no longer deductible as a miscellaneous itemized deduction on your Federal tax return since 2018.

 

But they are deductible on your CA state return.

 

In your CA state interview, you will find a screen that says:  Here's the income that California handles differently. Go to Investments > Investment Income Expenses