https://ttlc.intuit.com/community/taxes/discussion/brokers-charge-fees-to-buy-sell-securities-i-am-employing-them-for-the-purpose-of-generating-income/01/247518#M103920 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.<BR />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.<BR />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?<BR />You see any chance of offsetting my expenses to gains in this manner? <BR />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? Sat, 01 Jun 2019 20:14:49 GMT HEM-NC 2019-06-01T20:14:49Z https://ttlc.intuit.com/community/taxes/discussion/brokers-charge-fees-to-buy-sell-securities-i-am-employing-them-for-the-purpose-of-generating-income/01/247518#M103920 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.<BR />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.<BR />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?<BR />You see any chance of offsetting my expenses to gains in this manner? <BR />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? Sat, 01 Jun 2019 20:14:49 GMT https://ttlc.intuit.com/community/taxes/discussion/brokers-charge-fees-to-buy-sell-securities-i-am-employing-them-for-the-purpose-of-generating-income/01/247518#M103920 HEM-NC 2019-06-01T20:14:49Z https://ttlc.intuit.com/community/taxes/discussion/nope-they-are-non-deductible-i-m-in-the-same-situation/01/247523#M103923 <P>nope they are non deductible. i'm in the same situation.&nbsp; &nbsp;however, if you have retirement accounts have the fees pertaining to them deducted there.&nbsp; &nbsp;this has the effect of eventually reducing RMD's&nbsp;</P> Sat, 01 Jun 2019 20:14:50 GMT https://ttlc.intuit.com/community/taxes/discussion/nope-they-are-non-deductible-i-m-in-the-same-situation/01/247523#M103923 Anonymous 2019-06-01T20:14:50Z https://ttlc.intuit.com/community/taxes/discussion/nope-they-are-non-deductible-i-m-in-the-same-situation/01/247539#M103932 <P>nope they are non deductible. i'm in the same situation.&nbsp;</P> Sat, 01 Jun 2019 20:14:52 GMT https://ttlc.intuit.com/community/taxes/discussion/nope-they-are-non-deductible-i-m-in-the-same-situation/01/247539#M103932 Anonymous 2019-06-01T20:14:52Z