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We paid investment advisement fees for my husband's 401K

Customer Question
Hi Pearl! JA: The Accountant will...
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: 7 months ago.Category: Tax
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Answered in 7 minutes by:
4/17/2017
Tax Professional: Stephen G., Sr Income Tax Expert replied 7 months ago
Stephen G.
Stephen G., Sr Income Tax Expert
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Tax Professional: Stephen G., Sr Income Tax Expert replied 7 months 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.

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