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.
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