For JPMorgan managed account I paid $10,283.74 in charges and fees. I can't deduct on federa. but yes on CT return. Correct?
I am taking std deduction on federal;
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1 Replies
LenaH
Employee Tax Expert
Feb 21, 2025 11:25:38 AM
No, management investment fees are not deductible on your Connecticut return.
This type of deduction was a "below-the-line" deduction prior to the Tax Cuts and Jobs Act of 2017. While some states allow deductions that differ from federal rules, Connecticut is not one of them. In fact, Connecticut does not incorporate standard or itemized deductions in its income tax calculation.