RRIF mgmt fee deductible on US taxes?

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mikie
Posts: 25
Joined: Thu Jan 07, 2016 1:08 pm

RRIF mgmt fee deductible on US taxes?

Post by mikie »

Dual national, US resident since 2015. As a Canadian NR, I no longer file in Canada. In 2018 I transferred my RRIF to a RRIF which has explicit management fees. These fees are not deductible in Canada. But would they be accepted as a legitimate deduction by the IRS?
nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: RRIF mgmt fee deductible on US taxes?

Post by nelsona »

No longer. Even when they were, it was subject to the 2% floor, and you had to itemize.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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