Can you claim charges from companies like buyandhold.com on your taxes and receive a tax deduction?
2007-02-25 06:42:15 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Let's say I had no activity on my account last year. Do I still need to claim the charges incurred from this website or do I wait until I sell all of my holdings...I am confused
2007-02-26 04:48:40 · update #1
Use any purchase and sales commissions and fees to adjust your basis and gain realized on sale.
Monthly fees go on Schedule A if you have enough itemized deductions to make itemizing worthwhile.
2007-02-25 07:02:48 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Deduct on Schedule A Investment Expenses.
2007-02-25 14:47:15 · answer #2 · answered by ninasgramma 7 · 2⤊ 0⤋
I always write this charge off against the income reported. It is a business expense that you incur in an attempt to make the income.
2007-02-25 14:45:37 · answer #3 · answered by whatevit 5 · 0⤊ 3⤋
as an investment expense, yes
2007-03-02 19:44:40 · answer #4 · answered by ? 4 · 0⤊ 0⤋