My brokers charge management fees to help direct investment strategies and perform buy/sell securities transactions. In the past this was a deductible investment expense. With the new standard deduction of $24k, I understand that goes away.
I still pay these fees, and those fees are taxable income to my brokers. As such, I wonder whether I can claim them as a reduction in basis (or something else) when I report my sell transactions.
It seems to me, I am employing personnel for the purpose of generating income. That is a bona fide expense. Trade costs are still a basis reduction...right?
You see any chance of offsetting my expenses to gains in this manner?
It's been suggested I may be able to pay these fees (for both regular and retirement accounts) using IRA funds, and thereby reduce my RMD in the future. Is that allowed?
