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Does anyone know if I can simply subtract $20 from my gross of $7K and report $6980 net on my US taxes?

Yes, sort of.

Your broker is going to report the whole $7000 as the gross proceeds of the transaction. You want your tax return to match that. Otherwise, you'll get a nice letter from the IRS saying your return doesn't match the 1099s they received, and please send in some money.

Instead, you add the $20 fee to the cost of your shares. Same net result, but better matching to the 1099 you'll get.

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