So - where do you think Stock ADR fees and IRA account fees might be entered ?
- posted
12 years ago
So - where do you think Stock ADR fees and IRA account fees might be entered ?
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.
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.
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
tnx - yeah, found the place - since it was only $48, didn't quite make it, even with the other line items.
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