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March 31, 2021
Question

What is the "2% limitation on Investment Manager's Fees"? Can I deduct the $6,000 fees them from my Fidelity investment account?

  • March 31, 2021
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1 reply

March 31, 2021

No, your investment fees are not deductible.  According to IRS Publication 529:  "Investment fees, custodial fees, trust administration fees, and other expenses you paid for managing your invest- ments that produce taxable income are miscellaneous itemized deductions and are no longer deductible."

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