Can I deduct the fee charged for managing municipal bonds of the state where I reside?
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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
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what state? some allow it others do not. and there may be a need to enter it on a special form for the state.
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!
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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