What Fees can be added to cost basis

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xrw1
Posts: 71
Joined: Wed Aug 22, 2012 5:24 pm

What Fees can be added to cost basis

Post by xrw1 » Thu May 25, 2017 6:42 am

Hi everyone,

I recently just sold some old stocks from my DRIP accounts and there were Processing Fee, Sale Fee and Bank Wire fee. There were actually two bank wire fees, one that was from the broker and one from my bank.

I was reading up on the cost basis rules and they seem to say that transaction fees can be added to the cost basis. I would assume this would be the Processing and Sale fee I have, but what about the Bank Wire fee?



Thank you,

xrw1
Posts: 71
Joined: Wed Aug 22, 2012 5:24 pm

Re: What Fees can be added to cost basis

Post by xrw1 » Fri May 26, 2017 11:32 am

anyone know if those Bank Wire fee's can be added to the cost basis?

123
Posts: 3718
Joined: Fri Oct 12, 2012 3:55 pm

Re: What Fees can be added to cost basis

Post by 123 » Fri May 26, 2017 8:11 pm

I would bet that the wire fees would be deductible investment expenses but that they would not be able to be used to increase the cost basis.
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