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stevo29
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Can I add my annual $600 account fee to the basis of the sales of 2 mutual fund shares? If so how do I split between a covered and an uncovered sale?

Fee is general quarterly fee charged to manage my securities and was not on the 1099-B from brokerage.  This brokerage charges transaction commissions thru the general quarterly management flat fee.  Confused on which of the 2 sales I would allocated the fee increasing the basis.  Does this raise a red flag with IRS for the covered transaction since they receive a Form 8949 showing a higher basis without the account fee deducted?  If so and this is allowable should I use all of the fee to increase the basis for the un-coverred, non-reported sale?  Just want to do this by the rules.  Thank you
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1 Reply

Can I add my annual $600 account fee to the basis of the sales of 2 mutual fund shares? If so how do I split between a covered and an uncovered sale?

No you can't. prior to 2018 account management fees could only be deducted as an itemized deduction. the tax law changes in effect for 2018-2025 removed this deduction. 

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