turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Brokerage expense

My brokerage statement has a line for Custodial & Management Fees.  The page states Total expenses available for allocation to tax exempt income.

 

Where do I enter this in Turbo Tax?

 

I have always entered fees for IRA accounts in other investment expense, but not even sure that is correct?

 

Any help would be appreciated

 

Nadine

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Brokerage expense

Those fees are not deductible on your federal return but may be deductible on your state return subject to restrictions. If the fees are paid within a retirement plan they are not deductible by either. 

Brokerage expense

Since the state return pulls info from the Federal section should I enter in other investment expense?

Brokerage expense

Sorry, I figured it out.  Thanks for your help.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question