How can I deduct fees I paid out of pocket for setting up a self directed IRA with Trust bank account with custodian?

[ncstatebmw2]

I rolled a percentage of my traditional IRA over to self-directed IRA and there were costs to set it up that I paid directly out of my own pocket.  There is a trust setup and bank account I use to direct my own investments.  From what it is saying on the forms I filled out to set it up, this is a disregarded entity and uses the EIN of the custodian.  Some expenses were payed from the rollover, but I paid some out of pocket as well.  I have no idea where to enter this in turbo tax and the custodian just says consult my tax preparer.  That's all good when you aren't trying to do it yourself, but...

Side note: I have an LLC for one business and my other business is DBA.  However, my IRA has nothing to do with either of those businesses, so where would I enter those expenses?  Somewhere in personal section would make most sense to me.  I cannot find where to add them or if I can.

[ThomasM125 · Accepted solution]

Those expenses would be miscellaneous itemized deductions and are not allowed on 2021 federal returns and most state returns for most taxpayers due to the Tax Cuts and Job Act of 2017.  

You can enter them in the Deductions and Credits section of TurboTax, then Retirement and Investments, then Other Investment Expenses.

[ncstatebmw2]

Thank you Thomas for your answer.  The government has a way of screwing us over more and more each year.

A special thanks to Kevin Brady.
On November 2, 2017, Chairman Kevin Brady (R-TX) of the House Committee on Ways and Means released a tax reform plan, known as the House Tax Cuts and Jobs Act. The plan would reform the individual income tax code by lowering tax rates on wages, investment, and business income; broadening the tax base; and simplifying the tax code. The plan would lower the corporate income tax rate to 20 percent and move the United States from a worldwide to a territorial system of taxation.