Financial planning & brokerage account fees deductible?

Are costs paid to a financial planner deductible? And, are transaction
fees paid to a IRA brokerage account deductible?

If possible please refer to tax code, or, IRS publication. Thanks.

"Bob Divine" <> wrote
> Are costs paid to a financial planner deductible?

Yes, Schedule A, subject to a 2% of AGI floor.


> And, are transaction fees paid to a IRA brokerage account deductible?

If paid by you, yes, same as above, Schedule A, subject to 2% of AGI.

If paid from the IRA itself, then no.



> If possible please refer to tax code, or, IRS publication. Thanks.


Geeee......you want a lot for free.



--
Paul A. Thomas, CPA
Athens, Georgia

"Bob Divine" <> wrote in message
news:4211-421688BA-...
> Are costs paid to a financial planner deductible? And, are transaction
> fees paid to a IRA brokerage account deductible?
>
> If possible please refer to tax code, or, IRS publication. Thanks.
>

Suggest you look in IRS Publication 17.

Wayne Brasch, CPA, M. S. Taxation

The reason I asked about code / publication, is to eliminate "I think"
answers; obviously as a CPA you "know". Thank you for your answer.