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Investment Advisory Fees Deduction in St. Paul, MN 2026

Calculate your investment advisory fees deduction tax savings in St. Paul, Minnesota. With Minnesota's 9.85% state tax rate, your combined savings are higher.

Minnesota Tax Context

State Income Tax
9.85%
Local Income Tax
None
Property Tax Rate
1.11%
Tax Burden
High

State capital; Twin Cities metro

$1,592
Est. Total Savings
No Limit
Max Deduction
Itemized
Deduction Type
31.9%
Combined Tax Rate

Investment Advisory Fees Deduction Savings Calculator for St. Paul

$
$

Federal Savings

$1,100

22% bracket

Minnesota State

$492

9.85% rate

Local Tax

$0

0% rate

Total Savings

$1,592

31.9% combined

At a 31.9% combined tax rate in St. Paul, every $1,000 in deductions saves you $319 in taxes.

Savings by Tax Bracket in St. Paul

10%
$992
12%
$1,092
22%
$1,592
24%
$1,692
32%
$2,092
35%
$2,242
37%
$2,342

Includes 9.85% Minnesota state tax on top of federal savings.

Eligibility Requirements

Investors paying fees for investment management within IRAs or trusts

  • 1Suspended for individuals 2018-2025 under TCJA
  • 2Still deductible for trusts and estates
  • 3Must be paid outside the investment account for IRAs

Minnesota residents should verify that this deduction is also recognized on their state tax return for additional savings of up to 9.85%.

Common Mistakes to Avoid

  • !Trying to deduct personal investment fees under current law
  • !Not using IRA funds to pay fees directly
  • !Missing trust-level deduction opportunities
  • !Forgetting to claim the deduction on your Minnesota state return (missing 9.85% additional savings)

Required Tax Forms

Schedule AForm 1041

File these forms with your federal tax return to claim the investment advisory fees deduction. Minnesota may require additional state-specific forms.

Other Tax Deductions in St. Paul, MN

Capital Loss Deduction

Investment

~$956
est. savings

Tax-Loss Harvesting

Investment

~$7,239
est. savings

Investment Interest Expense

Investment

~$2,172
est. savings

Qualified Dividend Tax Rate

Investment

~$4,343
est. savings

Opportunity Zone Investment

Investment

~$14,477
est. savings

1031 Like-Kind Exchange

Investment

~$43,432
est. savings

QSBS Exclusion (Section 1202)

Investment

~$144,773
est. savings

Installment Sale

Investment

~$11,582
est. savings

Investment Advisory Fees Deduction in Other Minnesota Cities

Minneapolis, MN

9.85% state tax

~$1,158
-434 vs St. Paul

Saint Paul, MN

7.85% state tax

~$1,085
-507 vs St. Paul

Rochester, MN

9.85% state tax

~$1,158
-434 vs St. Paul

Duluth, MN

9.85% state tax

~$1,158
-434 vs St. Paul

Bloomington, MN

9.85% state tax

~$1,158
-434 vs St. Paul

Brooklyn Park, MN

7.85% state tax

~$1,085
-507 vs St. Paul

Plymouth, MN

7.85% state tax

~$1,085
-507 vs St. Paul

Maple Grove, MN

7.85% state tax

~$1,085
-507 vs St. Paul

Calculate Your Full Tax Savings in St. Paul

Use our free tax calculators to optimize your entire tax return for Minnesota.

Income Tax CalculatorTaxes in St. PaulFull Investment Advisory Fees Deduction Guide

Frequently Asked Questions

How much can I save with the Investment Advisory Fees Deduction in St. Paul, MN?

In St. Paul, Minnesota, the investment advisory fees deduction can save you an estimated $1,592 per year. This includes $1,100 in federal tax savings and $492 in Minnesota state tax savings. The national average savings is $800/year.

What is the Minnesota state income tax rate for St. Paul residents?

Minnesota has a 9.85% state income tax rate. St. Paul residents have no additional local income tax. State capital; Twin Cities metro

Who qualifies for the Investment Advisory Fees Deduction in St. Paul?

Investors paying fees for investment management within IRAs or trusts. The eligibility requirements are the same whether you live in St. Paul or elsewhere in the U.S., as this is a federal tax deduction. However, your savings amount will vary based on Minnesota's 9.85% state tax rate.

What tax forms do I need to claim the Investment Advisory Fees Deduction in Minnesota?

To claim the investment advisory fees deduction, you need to file Schedule A and Form 1041 with your federal return. Minnesota residents should also check if the state allows this deduction on their state return, which could provide an additional 9.85% savings. Filing status affects your deduction limits and tax bracket.

Is the Investment Advisory Fees Deduction better in St. Paul than in states without income tax?

Yes, St. Paul residents benefit more because Minnesota's 9.85% state income tax means the deduction reduces both your federal AND state tax liability. In states with no income tax (like Texas, Florida, or Nevada), this deduction only reduces federal taxes. Your combined rate of 31.9% means more savings per dollar deducted.

Related Calculators

Capital Loss Deduction in St. Paul

Avg savings: $660/year

Tax-Loss Harvesting in St. Paul

Avg savings: $5,000/year

Investment Interest Expense in St. Paul

Avg savings: $1,500/year

Qualified Dividend Tax Rate in St. Paul

Avg savings: $3,000/year

Opportunity Zone Investment in St. Paul

Avg savings: $10,000/year

1031 Like-Kind Exchange in St. Paul

Avg savings: $30,000/year