<< We have several managed accounts. In these there areno transaction fees, instead the frim charges us an amount (between 2 and 3% per annum of the portfolio value) as a management fee.Can this fee be included in the cost basis of the assets, or otherwise deducted for federal income tax? >>It's deductible as a miscellaneous itemized deduction on Schedule A, subject to the 2% of AGI exclusion. It is not basis.Phil MartiTax Preparer
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