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Are investment advisory fees deductible on California state tax(2018)?

 
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Level 6

Are investment advisory fees deductible on California state tax(2018)?

Please read this answer from Rocket J Squirrel which addresses your question:

https://ttlc.intuit.com/replies/7244557

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Level 6

Are investment advisory fees deductible on California state tax(2018)?

Please read this answer from Rocket J Squirrel which addresses your question:

https://ttlc.intuit.com/replies/7244557

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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New Member

Are investment advisory fees deductible on California state tax(2018)?

But will it make any difference on CA returns?
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Level 6

Are investment advisory fees deductible on California state tax(2018)?

It depends whether your total CA itemized deductions exceed the Ca standard deduction. If you use the CA standard deduction, it would not make any difference.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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New Member

Are investment advisory fees deductible on California state tax(2018)?

Using itemized it need to be greater than 2% of your AGI, correct?
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New Member

Are investment advisory fees deductible on California state tax(2018)?

I could not locate the "Adjustments to Income" in the California "Show Topic List."  Please help!
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Are investment advisory fees deductible on California state tax(2018)?

Were Investment Income Expenses deductible on CA or Fed returns earlier than 2018?
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Level 2

Are investment advisory fees deductible on California state tax(2018)?

Enter your investment advisory fees  and other miscellaneous deduction in the Itemization section of the Federal  return.   They won't count for Federal taxes but Turbo Tax carries them to your CA return  and adds them. subject to 2% threshold, to your Federal itemization.  You can view the result by going to the forms view   and going to the CA form which shows the addition of the miscellaneous expenses to the Federal Itemized expenses.