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Let's say I had no activity on my account last year. Do I still need to claim the charges incurred from this website this past year or do I wait until I sell all of my holdings...I am confused

2007-02-26 07:59:53 · 1 answers · asked by Anonymous in Business & Finance Taxes United States

1 answers

Monthly account maintenance fees are investment expenses and are deductible on Schedule A if you itemize deductions. If you don't itemize, they're lost forever.

They are only deductible in the year that they are paid or charged against your account.

Only purchase and sales commissions can be used to adjust the basis of a security when it's sold.

2007-02-26 08:09:22 · answer #1 · answered by Bostonian In MO 7 · 1 0

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