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Are you deducting investment management fees on fiduciary returns

safcpa
Level 2
 
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4 Replies 4
sjrcpa
Level 15

Only for accounting income purposes, not as a tax deduction.


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BobKamman
Level 13

Depends on the facts and circumstances

California allows 2% deductions. 

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sjrcpa
Level 15

My answer was for federal. CA is different. NY, too.


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