Does a sales load paid on a mutual fund count as an investment expense?

Question

Just before the end of the year, I bought a mutual fund with a substantial sales load. Can I deduct the cost of the sales load from my taxes as an investment expense?

Answer 1

The load paid on the mutual fund purchase would be considered part of the cost basis, and as such would reduce your gain (or increase you're loss) when you sell it. It isn't a deductible investment expense.

Answer 2

Judy is right.

Answer 3

if u itemize, yes