management fee for municipal bonds
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Returning Member

management fee for municipal bonds

Can I deduct the fee charged for managing municipal bonds of the state where I reside?

4 Replies
Expert Alumni

management fee for municipal bonds

Investment expenses are no longer deductible on your federal return, but they may help on your state return.

 

To enter financial management fees:

  • Type in investment advisor fees in the search box, top right of your screen, then click the magnifying glass

  • Click the jump to investment advisor fees slink in the search results.

  • Follow the onscreen instructions to enter

 

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Anonymous
Not applicable

management fee for municipal bonds

what state?  some allow it others do not.  and there may be a need to enter it on a special form for the state. 

Returning Member

management fee for municipal bonds

New York State bonds for NYState resident who pays NY State taxes?  Is management fee deductible in NY?

I assume it is ok to deduct fees in NY for managing municipals bonds of other states as that interest is taxable by NY State

 

Thanks for a reply!

Returning Member

management fee for municipal bonds

I am asking about the deductibility  of mgmt fees in NY State for NY bonds.  I assume that management fees are not deductible by NY since the interest is non-taxable but I want to know what you think.

 

I assume that management fees for out of state bonds are deductible in NY since the interest from those bonds is taxable by NY.

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