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cprattdc
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I know that IRS no longer allows deduction for investment advisory fees, but what about state returns, specifically District of Columbia?

 
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I know that IRS no longer allows deduction for investment advisory fees, but what about state returns, specifically District of Columbia?

Unfortunately, DC is following the IRS on the the elimination of many itemized deductions including the deduction for investment expenses. 

Follow this link for more information and to see where DC is not following the federal law: 

https://otr.cfo.dc.gov/page/whats-new-2019-tax-filing-season

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I know that IRS no longer allows deduction for investment advisory fees, but what about state returns, specifically District of Columbia?

Unfortunately, DC is following the IRS on the the elimination of many itemized deductions including the deduction for investment expenses. 

Follow this link for more information and to see where DC is not following the federal law: 

https://otr.cfo.dc.gov/page/whats-new-2019-tax-filing-season

I know that IRS no longer allows deduction for investment advisory fees, but what about state returns, specifically District of Columbia?

  • Itemized Deductions: The District generally allows the same itemized deductions allowed under the Internal Revenue Code for federal individual or fiduciary income tax returns. Pursuant to the federal tax reform that was passed by Congress in 2017, many itemized deductions previously allowed under the Internal Revenue Code have been eliminated or modified beginning with tax year 2018. Accordingly, many of the itemized deductions previously allowed for District taxpayers are now eliminated or modified.
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