Can I claim management fees on my 2015 taxes? If so, where do I do this and what slip is required if any?

[Alith]

The management fees are from investments thru an investment firm.

[TurboTaxJeffrey · Accepted solution]

Yes you are able to claim management fees.  In the left hand column, click "Income & Expenses" then click "Investment Expenses" and select "invesgtment management and advice."  Click Continue and you will be able to enter your management fees.

[TurboTaxJeffrey]

As to documentation, it may just be a receipt from the investment firm.  If your investment income is shown on T slips, then there could be a note on the slip, it may indicate the amount paid in fees on the slip, as a note, and if so then that T slip is your documentation.  You still enter the fees in the manner I mentioned.

[Alith]

Thanks Jeffrey!

[epcanuck]

I cannot find where to enter the management fee

[TurboTaxJeffrey]

epcanuck, which version of the software are you using?

[Sara-TurboTax]

Thank you for your question.

Management fees can be claimed as an investment expense.

If you are using TurboTax Online, you will need to indicate in the Profile tab that you have expenses related to investments. You will be prompted to enter these fees in the Income section.

https://turbotax.intuit.ca/tax-resources/tax-investment/carrying-charges-and-interest-expenses.jsp

If you are using TurboTax Desktop software, you can claim this on Schedule 4, Section III Carrying charges and Interest expenses.