How to Categorize IRA Annual Fee?

"Margaret Wilson" wrote

I categorize mine as "IRA Fees".

It's possible that these fees can be deducted as a Miscellaneous Itemized Deduction on Sched A. If you link your categories to TurboTax, then assign the category to Schedule A subject to 2%-AGI. I don't have Q running now, but there should be a line that says "other expenses such as investment, safe deposit box, etc." Since the 2%-AGI limit is imposed, you may never have enough items in this category to add up to a deduction, but those items might as well end up in the right area.

Thanks Rick, I found the line item you mention. It's "investment management fees."

Regards,

Margaret