Are Advisory Fees Tax Deductible?
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In brokerage account fees tax deductible ever-changing economic environment, we want to reach out and help you navigate some brokerage account fees tax deductible legislative changes. We know some of our clients pay their advisory fee by check or deduct the fee from a taxable account for the purpose of a miscellaneous tax deduction.
The recently passed Tax Cuts and Jobs Act brings forth a wide variety of changes to the US tax code, including eliminating the itemized deduction for advisory fees for the brokerage account fees tax deductible year. If you were paying your advisory fee by check or deducting the advisory fee from an alternate account, you may want to consider having your advisory fee debited directly from your managed account.
Any questions about how this change may impact your personal tax situation should be directed to a tax professional.
We make it easy to deduct your quarterly fee directly from your managed account or another Fidelity account. The fee will be included in your account statement, allowing for a consolidated view into all of your managed account activity. If you have any questions for how to change the way you pay your advisory fee—or anything else pertaining to your managed account—please visit us online or call us directly at Quarterly Market Perspective Watch this brief video to learn more about last quarter's market events and what your investment team did to manage your account.
Fidelity does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results.
Fidelity cannot guarantee that the information herein is accurate, complete, or timely. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information.
Consult an attorney or tax professional regarding your brokerage account fees tax deductible situation. This is for persons in the U. Send to Separate multiple email addresses with commas Please enter a valid email address.
Your email address Please enter a valid email address. What tax reform means for your advisory fee. The views expressed based on information obtained from sources believed to brokerage account fees tax deductible reliable but not guaranteed. This is for informational purposes only and is not intended to constitute a current or past recommendation, investment advice of any kind, or a solicitation of an offer to buy or sell any securities or investment services.
The information and opinions presented are current only as of the date of writing, without regard to the date on which you may access this information.
All opinions and estimates are subject to change at any time without brokerage account fees tax deductible. These services provide discretionary money management for a fee.