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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7067
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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We paid investment advisement fees for my husband's 401K

Customer Question

Hi Pearl!
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: We paid investment advisement fees for my husband's 401K account with a personal check - not within the fund. Are all of the fees paid deductible on our federal return?
JA: Is there anything else important you think the Accountant should know?
Customer: all earnings are rolled back into the 401K. my husband is still working
Submitted: 1 month ago.
Category: Tax
Expert:  Stephen G. replied 1 month ago.

Hello, my name is***** goal is to give you a complete & accurate answer. I am working on your request now & I will respond as soon as possible.

Expert:  Stephen G. replied 1 month ago.

Yes, the investment advisory fees are deductible as a Miscellaneous Itemized Deduction on Line 23, subject to the 2% floor. (Form 1040, Schedule A, Line 23).

Steve G.