Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (680)	2/28/1998 11:26:00 AM
From: Terry Lyon	Read Replies (2) of 5810

I have a question about taking a deduction for brokerage commissions. Suppose you made several stock purchases during the year and accumulated a fairly significant net bill for brokerage commissions. Can the sum of these fees be taken as a deduction and on what schedule and is there a deduction limit? I reason that these fees must be deductible as they are excluded when doing capital gains calculations yet are an expense. Thank you in advance. Terry

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