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Can I Deduct Fees Paid to My Mutual Fund Manager?

by Jeff Heimler, CPA

Can I deduct the fees that are paid to the people who manage my mutual funds from my income taxes? 

Yes, the fees paid to people who manage your mutual funds or other investments are investment expenses and are tax deductible. Investment expenses are an itemized deduction taken on Schedule A. These expenses are part of the category of miscellaneous itemized deductions subject to the 2 percent of adjusted gross income limit.

Jeff Heimler is principal of Heimler & Associates, CPA. He can be reached at (949) 252-8192(949) 252-8192.

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In accordance with IRS Circular 230, the information on this website is not intended or written to be used, and cannot be used as or considered a "covered opinion" or other written tax advice and should not be relied upon for the purpose of avoiding tax-related penalties under the Internal Revenue Code; promoting, marketing, or recommending to another party any transaction or tax-related matter(s) addressed herein; for IRS audit, tax dispute or other purposes.