U.S. Supreme Court in Rudkin Says Investment Advisory Fees Are Subject to the 2% Floor

dc.contributor.author Harl, Neil
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-19T05:24:37.000
dc.date.accessioned 2020-06-29T22:55:23Z
dc.date.available 2020-06-29T22:55:23Z
dc.date.embargo 2017-11-29
dc.date.issued 2008-02-08
dc.description.abstract <p>In a rare unanimous opinion, the United States Supreme Court on January 16, 2008 settled, for now, the question of whether investment advisory fees are fully deductible.<strong>1 </strong>The high court held that investment advisory fees incurred by trusts are generally subject to the two-percent floor for miscellaneous itemized deductions.<strong>2 </strong>The decision means that such fees are deductible only to the extent that their total, along with certain other miscellaneous itemized deductions, exceeds two-percent of the trust’s adjusted gross income, which translates into smaller deductions and more taxable income for many trusts.</p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol19/iss3/3/
dc.identifier.articleid 2036
dc.identifier.contextkey 11171013
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol19/iss3/3
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/3390
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol19/iss3/3/AgLawDigest_v19n03_01.pdf|||Fri Jan 14 23:23:10 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title U.S. Supreme Court in Rudkin Says Investment Advisory Fees Are Subject to the 2% Floor
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isJournalIssueOfPublication 9db6adea-1363-4506-a5f6-e278598aea65
relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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