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Are bank fees, such as overdraft fees, deductible on income taxes?


Are bank fees, such as overdraft fees, deductible on income taxes?

It depends. All bank fees could be deductible if they were charged to an account used exclsively for a trade or business. The same goes if you had an account used exclusively for a building rental.

If this was just your personal account, with nothing particularly spcial going on, then the fees are not deductible.
NO, neither is your interest on your credit cards.
Former H&R Block tax perparer.
No they are not.
Tax preparer
No they arent't sorry.
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