I feel like such a bonehead asking this but here goes. Are the management and advisors and advertising fees that mututal funds indirectly charge shareholders tax deductible? I asked my accountant this question and she looked at me like I was from the moon. But it seems to me that if a directly charged broker's comission or margin interest is tax deductible as an investment expense, these indirect fees ought to be deductible as well. After all, aren't they also expenses associated with investment? Can anyone straighten me out on this?
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