Can I deduct the Roth IRA and Rollover IRA fee from my broker?

Q: Can I deduct the Roth IRA fee and Rollover IRA fee from my broker? If so, where on the 1040? —Mary, Boston

The following answer was provided by Mark Misselbeck, CPA, Levine Katz Nannis & Solomon PC, Needham.

A: If you paid these fees, personally, rather than permitting the broker to deduct them from the balances in the IRAs, you may deduct them as investment advice and management fees on Sch. A (if you itemize your deductions) as Miscellaneous Itemized Deductions, subject to the 2% reduction for such amounts, in the bottom section of the Sch. A.