Bank Fees Tax Deductible

Are banking fees tax deductible?

overdraft fees?

No, overdraft fees are never deductible.

Ordinary bank fees are deductible on a business return but not on an individual return. Exception: If you pay a penalty for early withdrawal from a time deposit account (such as a CD) you can take a negative income adjustment for that on line 21.

Loan discount fee tax deductibLe refinance