ETF Taxation

Are ETF fees really "tax-deductible?"

ETF fees are paid pre-tax, while taxable managed account fees are paid post-tax, and are not deductible thanks to the Tax Cuts and Jobs Act (set to expire EOY 2025)

Brent Sullivan· January 28, 2025

Cartoon contrasting ETF fees paid pre-tax against non-deductible post-tax separate account fees under the TCJA — Lucas, S. E. (2020). The Taxable Investor's Manifesto.

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Quoted in WSJ, Bloomberg, and Barron’s. Published in The Journal of Wealth Management.