Yes, investment management expenses are a miscellaneous deduction on
Schedule A (Itemized Deductions) subject to 2% of your adjusted gross
income.
To enter this amount in TurboTax Deluxe:
- select the "federal" tab,
- then "deductions & credits."
- next select "find deductions myself"
- next "other deductions & credits"
- then "other deductible expenses."
- say yes to the "other less common
expenses" screen
- you will see a screen saying "enter other
less common expenses"
- enter your portfolio management fees here.