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Author: cheweytheelder Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121428  
Subject: Re: Deductable Investment Management Fees Date: 11/27/2003 10:54 AM
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Ira,

Sorry I have not had a chance to respond to your last reply. I've been traveling etc.

I posed your latest thoughts on this topic to my accountant and he says to the contrary " ... it is a well established principal that you (the taxpayer) can call an item of income or expense anything you want... but in the final analysis the IRS will call it what it is ... (i.e. "substance over form")... which is the principal that will nearly always determine the final outcome ..."

However he also said that in the final analysis it is the taxpayer's responsibility to provide the "supporting documentation ...etc." to prevail with the IRS. So as you suggested if I can't get the broker to give me an appropriate breakdown of the fees then I should find another broker. I wonder thou if the next broker will be any better?
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