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!jgpojgpo@iwu1c.UUCP (John, KA9MNK) (03/24/84)
Oops! My path should read:
{whatever}!ihnp4!iwu1c!jgpo
not iwuac. Sorry 'bout that.
John Opalko