I have a partnership where the partners charge the fees against their individual accounts or pay the fee personally because they all have different balances. The individual partners who pay their fee personally are taking the deduction as fee for investment management which is subject to the 2% floor on the Schedule A of form 1040.

The partnership pays the fee for the non-partners.

Can anyone tell me if the partnership paid the expenses for all participant, could the fees be allocated as business expenses to the individual partners for there proportionate share?

If this can be done, it would reduce the amount of self-employment income and therefore reduce the self-employment tax the partners pay.

I am not an accountant. However expensing plan administration fees as investment fees is dumb in my opionion. All of my partnerships expense as normal business expense, including my CPA firms.