2007-03-06 04:37:37 · 4 answers · asked by Jim F 1 in Business & Finance ➔ Taxes ➔ United States
No, not if they're just deducted - that would just change your IRA balance. If you pay the fee separately by check, you might be able to deduct it.
2007-03-06 04:56:31 · answer #1 · answered by Judy 7 · 3⤊ 1⤋
No. A better solution is to pay the fees out of your regular funds, not the IRA. That maximizes the tax deferral benefit you sought when you set up the account in the first place.
2007-03-06 05:07:23 · answer #2 · answered by Ovrtaxed 4 · 1⤊ 1⤋
Yes.
But only as a Schedule A Miscellaneous Deduction subject to 2% of Adjusted Gross Income. Which means that you can claim only the extent of miscellaneous deductions over and above 2% of your Adjusted Gross Income.
Same applies to Safe Deposit Fees, and Investment Advisory Service Fees.
2007-03-06 04:55:45 · answer #3 · answered by bold4bs 4 · 1⤊ 3⤋
Not until you retire. At which point, you can claim investment expenses.
2007-03-06 04:45:59 · answer #4 · answered by Jay 7 · 0⤊ 1⤋