RRIF mgmt fee deductible on US taxes?
Moderator: Mark T Serbinski CA CPA
RRIF mgmt fee deductible on US taxes?
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?
Re: RRIF mgmt fee deductible on US taxes?
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