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Level 2
January 30, 2021
Question

where to input ACCOUNT MANAGEMNET FEES to partnership return 1065

where to input  account management fees from managed brokerage account to partnership return 1065?

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3 replies

sjrcpa
Level 15
January 31, 2021

Nondeductible expense

The more I know the more I don’t know.
George4Tacks
Level 15
January 31, 2021
Possibly deductible on state.
Answers are easy. Questions are hard!
George4Tacks
Level 15
January 31, 2021

Enter in Screen 22 > Other Information > Investment expenses [A] > Account Management Fees (Sch A-Misc) - $Amount

I think it is then up to the individual preparer to determine the deductibility. Typically zero on Fed, but maybe deductible on State. 

Answers are easy. Questions are hard!