Wrap fee as misc investment expense deduction for IRA
Can wrap fees (on AUM) be deducted as an itemized deduction (investment expense) for an IRA account? Does it make a difference if the fee is deducted from the IRA or paid separately?
Can wrap fees (on AUM) be deducted as an itemized deduction (investment expense) for an IRA account? Does it make a difference if the fee is deducted from the IRA or paid separately?
Permalink Submitted by Alan - IRA critic on Tue, 2016-06-07 16:46
If the fee is billed to the person and not deducted from the IRA, it qualifies as a misc deduction subject to the 2% of AGI floor.