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I am new to investing, and I made a few investments through Smith Barney. I paid very high comissions. I was wondering if and how they affect my investment as far as Uncle Sam/IRS is concerned? Are the comissions considered part of my total investment? Can they be used as a tax deduction? Did I just give my money to some Wise Guy?

Also I had some mutual funds, and I sold them all so that I could put the money in stocks. I had to pay some penalties. Can I write these off somehow, or did some Wise Guy get my money again?


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