Permalink Submitted by Alan - IRA critic on Thu, 2018-04-05 23:58
Not if they were billed directly to the IRA and paid from the IRA. If billed to the IRA owner in 2017, if the individual can itemize and subject to a 2% AGI floor for the misc deduction, it could be itemized. That deduction was eliminated by tax reform starting in 2018. Therefore, from here on, the individual should request that the fees for the traditional IRA assets be billed directly from the TIRA as that bill will be paid by pre tax dollars.
Permalink Submitted by Alan - IRA critic on Thu, 2018-04-05 23:58
Not if they were billed directly to the IRA and paid from the IRA. If billed to the IRA owner in 2017, if the individual can itemize and subject to a 2% AGI floor for the misc deduction, it could be itemized. That deduction was eliminated by tax reform starting in 2018. Therefore, from here on, the individual should request that the fees for the traditional IRA assets be billed directly from the TIRA as that bill will be paid by pre tax dollars.