How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Robin D. Your Own Question
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13344
Experience:  15years with H & R Block. Divisional leader, Instructor
14155347
Type Your Tax Question Here...
Robin D. is online now
A new question is answered every 9 seconds

I have an IRA that is managed and pay service from the

Customer Question

I have an IRA that is managed and pay for this service from the account. Is this payment tax deductible?
Submitted: 8 months ago.
Category: Tax
Expert:  Robin D. replied 8 months ago.

Hello

Management fees paid through the IRA account cannot be deducted. They simply reduce the value of your IRA.

Management fees paid by cash or check and are not deducted from the IRA can be deducted as investment expenses.

Please remember to rate my service excellent once you have all the information you need. If you have any other questions, please ask me – I’ll be happy to respond. Thank you!

Expert:  Robin D. replied 8 months ago.

Checking to see if you responded