ADR and IRA fees

So - where do you think Stock ADR fees and IRA account fees might be entered ?

Reply to
ps56k
Loading thread data ...

Investment expenses on Schedule A.

But remember that IRA account fees can only be deducted if you pay for them with funds outside the IRA.

Reply to
Barry Margolin

I think stock ADR fees should be added to the cost basis of the stock. General fees should be on Schedule A subject to the 2% limit and AMT -- when paid with funds from a taxable account.

Reply to
removeps-groups

General fees should be on Schedule A subject to the 2% limit and AMT -- when paid with funds from a taxable account.

No. ADR fees are associated with the processing of dividends, not the purchase/sale of securities. They are investment expenses, subject to 2% AGI haircut.

Ira Smilovitz Leonia, NJ

Reply to
ira smilovitz

tnx - yeah, found the place - since it was only $48, didn't quite make it, even with the other line items.

Reply to
ps56k

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.