Tax Schedule Report excludes financial management fees in traditional IRA
larryvc
Quicken Windows Subscription Member ✭✭
I know that the report excludes the tax deferred accounts for taxable income reporting, but shouldn't these financial management fees be on the report?
Quicken Classic Business and Personal subscription - Quicken user since floppy disks were in vogue, AKA forever
0
Best Answers
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Management fees are no longer deductible.
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And you could only deduct them if you paid the fees with money outside the IRA or retirement accounts. If you paid the fees with other personal money like from your checking account you used to be able to deduct it if you Itemized deductions.
See Deductions that have been suspended for 2018-2025 under Other Misc Deductions subject to the 2% limit
I'm staying on Quicken 2013 Premier for Windows.
2
Answers
-
Management fees are no longer deductible.
3 -
And you could only deduct them if you paid the fees with money outside the IRA or retirement accounts. If you paid the fees with other personal money like from your checking account you used to be able to deduct it if you Itemized deductions.
See Deductions that have been suspended for 2018-2025 under Other Misc Deductions subject to the 2% limit
I'm staying on Quicken 2013 Premier for Windows.
2
This discussion has been closed.