In article <0jYsl.2067$%u5.860[at]nwrddc01.gnilink.net> ,
Orrie Frutkin <Orrie1272[at]verizon.net> wrote:
- quote -


That is an investment expense, a schedule A micellaneous deduction
subject to reduction by 2% of AGI.

In fact, your investment club should be reporting this to you on
some form. If your club is a partnership, your partnership
Schedule K-1 should list this as an investment expense and contain
instructions to tell you it goes on schedule A misc 2% deductions.


Not all miscellaneous deduction result in an actual tax benefit.
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ArtKamlet at a o l dot c o m Columbus OH K2PZH

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Hi,

I dropped out of an investment club in 2008, and a 3% withdrawal fee was
deducted from the gross amount of my account. The 3% was retained by the
remaining members of the club. The club's by-laws specify that this withdrawal
fee is to be deducted from the money distributed to the member who is leaving in
order to pay for broker commissions and/or transfer expenses.

Can I deduct that "withdrawal fee" as an investment expense?

Thank you.

Orrie

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >