management fee for municipal bonds

[audrey8]

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

[RobertG]

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

Marketstar

[Anonymous]

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

[audrey8]

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!

[audrey8]

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.