Mutual fund fee

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Posted by David Moore on January 17, 2009, 12:44 pm Please log in for more thread options I sold shares in a Vanguard fund that charges a fee when shares are sold less than 5 years after purchase.  I received the NAV of the shares, less the fee. Vanguard's 1099-B gives the NAV as Gross Proceeds and does not mention the fee. Can I add the fee to my cost basis, or is it (alas) a Schedule A miscellaneous deduction subject to the 2% limit? -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used,   >> << nor can it used, for the purpose of avoiding penalties  >> << that may be imposed upon the taxpayer.                  >> <<                                                         >> <<   The Charter and the Guidelines for submitting posts   >> <<  to this newsgroup as well as our anti-spamming policy  >> <<                  are at www.asktax.org.                 >> <<         Copyright (2007) - All rights reserved.         >> << ------------------------------------------------------- >> Posted by Paul Thomas, CPA on January 17, 2009, 1:30 pm Please log in for more thread options >I sold shares in a Vanguard fund that charges a fee when > shares are sold less than 5 years after purchase.  I > received the NAV of the shares, less the fee. > Vanguard's 1099-B gives the NAV as Gross Proceeds > and does not mention the fee. > Can I add the fee to my cost basis, or is it (alas) a Schedule > A miscellaneous deduction subject to the 2% limit? The costs to sell your investment is added to the cost basis in determining any gain or loss on that investment. -- Paul A. Thomas, CPA Watkinsville, Georgia -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used,   >> << nor can it used, for the purpose of avoiding penalties  >> << that may be imposed upon the taxpayer.                  >> <<                                                         >> <<   The Charter and the Guidelines for submitting posts   >> <<  to this newsgroup as well as our anti-spamming policy  >> <<                  are at www.asktax.org.                 >> <<         Copyright (2007) - All rights reserved.         >> << ------------------------------------------------------- >> This Thread        Yahoo!   Google   Windows Live   del.icio.us   digg   Netscape Mutual fund fee David Moore 01-17-2009  Re: Mutual fund fee Paul Thomas, CPA 01-17-2009 Related Posts Subject Date Taxability of payment from a Qualified Settlement Fund (QSF)... April 28, 2007, 5:03 pm Mutual Fund to 529 ... February 18, 2007, 3:50 am Selling mutual fund tax question March 28, 2008, 2:59 pm mutual fund sale and reporting June 8, 2006, 2:42 pm short-term cap gains in mutual fund? December 8, 2006, 2:26 am 401k bond mutual fund tax question May 7, 2007, 1:09 pm Capital loss on mutual fund sales March 27, 2009, 10:47 pm Re: Capital loss on mutual fund sales March 27, 2009, 11:22 pm Reporting mutual fund dividends on 1099-DIV March 14, 2010, 8:11 pm distribution of mutual fund assets after death June 19, 2010, 4:12 pm Mutual Fund Transfer: How to deal Capital Loss? November 12, 2006, 4:03 pm Long or short term on mutual fund sales? February 5, 2009, 3:53 pm Sold mutual fund shares in 2008, all at a loss. Do I need to... January 27, 2009, 11:46 am Advantages of having mutual fund company withhold taxes for ... March 20, 2007, 3:05 pm Mutual fund average basis rule - when can you revert to cost... November 27, 2008, 8:23 pm Earliest age to fund an IRA December 12, 2006, 1:37 am SEC Fair fund June 1, 2007, 10:42 am SEC Fair fund June 1, 2007, 10:42 am Re: Last day to fund 2005 IRA? April 12, 2006, 11:09 pm Re: Last day to fund 2005 IRA? April 12, 2006, 11:28 pm Latest Posts Subject Forum RSS Converting Date in HQ Manager Report Point-Of-Sale Software Assigning a TAG to direct deposit account Quicken Personal Finance Discussions CCH Tax News Headlines - September 1, 2010 Taxes General Forum Can I export my business info from Quickbooks to TurboTax On... QuickBooks Discussion board AR Staff Accountant, Norcross, GA to $45K General Accounting Mail Merge PT 2005 Peachtree Accounting Discussions