[net.invest] IRA Fees

jgpo@iwu1c.UUCP (John, KA9MNK) (03/23/84)

How does one treat brokerage fees on stock transactions in a self-directed
IRA?  I know the startup fee and annual maintenance fee are deducted on
Schedule A as miscellaneous investment expenses, but I've heard conflicting
stories about the treatment of commissions.  Some people claim that you
pay the commissions separately (i.e. not as part of your $2000 maximum)
and claim them on Schedule A.  Other people claim that any and all commissions
are taken out of IRA contributions, and that paying in a little extra for
commissions would result in an excess contribution (taxable at 6%).  What's
the story?


	Thanks,

	John Opalko
	AT&T Bell Labs
	Naperville, IL
	{whatever}!ihnp4!iwuac!jgpo

jgpo@iwu1c.UUCP (John, KA9MNK) (03/24/84)

Oops!  My path should read:

	{whatever}!ihnp4!iwu1c!jgpo

not iwuac.  Sorry 'bout that.


	John Opalko