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Z
zahava1
March 14, 2020
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Where do I deduct fees paid on a foreign stock?

  • March 14, 2020
  • 1 reply
  • 0 views
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Best answer by JohnB5677

The IRS will allow you to add the fees to the cost basis.  They are not deductible in the current year unless you sell the stock.

1 reply

RobertG
RobertG
March 14, 2020

Here is how to enter fees on stock sales that are not included in the sale proceeds reported on the form.

 

  1. Go back in and edit the trade. 
  2. Enter your trade information on the Now we'll walk you through entering the info page
  3. On the next page (Let us know if any of these situations apply to this sale) you will see a box that says I paid sales expenses that aren't included in the sale proceeds reported on the form. Check the box, and enter the expense. 
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Z
zahava1Author
March 17, 2020

hello,

 

The answer provided assumed incorrectly that I had traded the foreign stock.  I did not trade it. I owned it and it charged a fee once during the past year which appeared as a debit on my brokerage statement.  I own various shares in  a German company that  in my account; it is  not a mutual fund. 

 

My question is where can i deduct these fees on my federal return...they reduce my total dividends.

 

Thanks

JohnB5677
JohnB5677Answer
March 17, 2020

The IRS will allow you to add the fees to the cost basis.  They are not deductible in the current year unless you sell the stock.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
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