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Deduction of "mandatory reorganization" fee?

 
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Michael



Joined: 25 Aug 2007
Posts: 1

PostPosted: Wed Mar 15, 2006 2:28 pm    Post subject: Deduction of "mandatory reorganization" fee? Reply with quote

Twice in 2005, companies in which I owned stock underwent a
corporate restructuring which led to my being charged a
"mandatory reorganization" fee by my brokerage. Is there
some particular place on a 1040 where this fee is supposed
to be deducted? Or is it supposed to just be added to the
stocks' respective cost bases?

- Michael

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Mark A. Hvasta, CPA



Joined: 25 Aug 2007
Posts: 27

PostPosted: Fri Mar 17, 2006 4:03 am    Post subject: Re: Deduction of "mandatory reorganization" fee? Reply with quote

wrote:

> Twice in 2005, companies in which I owned stock underwent a
> corporate restructuring which led to my being charged a
> "mandatory reorganization" fee by my brokerage. Is there
> some particular place on a 1040 where this fee is supposed
> to be deducted? Or is it supposed to just be added to the
> stocks' respective cost bases?

If the expense is charged by your brokerage for additional
work they had to do in managing your account, then these are
investment expenses which are deductible on Sch A subject to
2% of AGI, if these are fees charged by the corporations to
shareholders (which doesn't seem likely), then I would add
to the basis of the shares owned.

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