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kayk0831
March 26, 2021
Question

Can you deduct account management fees from income on state income tax returns?

  • March 26, 2021
  • 1 reply
  • 0 views
are account management fees deductible from income on state of Indiana income tax return?

1 reply

E
ErnieS0
March 28, 2021

No. Indiana does not have a deduction for account management fees. 

 

Those fees are no longer deductible for federal taxes, either. 

 

The IRS says: Investment fees, custodial fees, trust administration fees,
and other expenses you paid for managing your investments that produce taxable income are miscellaneous itemized deductions and are no longer deductible.

 

Related Resource: IRS Publication 529, Miscellaneous Deductions

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