Can I deduct stock transaction fees in self directed sep IRA on my taxes?

Question

and where would i do that if i can ?

would it be considered a custodial fee ?

Answer 1

No, they just reduce the gain.

BTW, they aren't deductible on any investment portfolio, IRA or otherwise.

Answer 2

Whenever you have a question like this, just step back for a minute and give it some thought:

What are the expenses linked to?

Expenses are always deductible to the tax event taking place. If you're in business, they're deductible as a business expense. If you're buying and selling stocks on the open market, your expenses are deductible from your stock gains.

In this case, your expenses are linked to an IRA, a tax sheltered retirement account. They are therefore deductible from any taxes you might pay on your IRA, which you won't pay until you begin pulling the money out. Note that your tax treatment will be different based on whether you have a traditional or Roth IRA, and so it will be different with any other retirement account, as well.

Since your account is growing tax free, the expenses simply reduce your growth.

Answer 3

No. Expenses related to non-taxable income are not deductible

--A Damn Fine Tax Advisor