Maintenance fee on Brokerage account ?

Home Fairmark Forum Taxation of Investments Maintenance fee on Brokerage account ?

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    Is there a way to offset the fee I’m paying the Brokerage co. for having my account there? They take it automatically out of my account?
    I don’t see anyway on the 1099 INT or Div to do this? I did have some Municipal Bonds that came due & were redeemed, but the fee didn’t have to do with selling?

    Kaye Thomas

    Investment expenses of a general nature like this were previously allowed as an itemized deduction, but this entire category of deductions was eliminated (at least for a period of years) and relatively few people itemize now anyway since the increase in the standard deduction.


    Thanks – too bad.


    Another question is why are you paying a maintenance fees when so many brokers do not charge a maintenance fee? Might be worthwhile to shop around and transfer your account.


    Thanks for the clarification.


    when you say ‘fee’, what exactly is the fee for?

    It is possible this is an account under a management agreement, where the account is assessed a, say, 1% per annum fee, payable quarterly.

    I’ve seen IRAs with annual ‘fiduciary fees’, usually taken out at the end of the year.

    If you are managing investments yourself, you can always transfer your account to one of the discount brokers (thats what they used to be called), such as Vanguard, Fidelity, Schwab or E-Trade. Here there are no ongoing account fees, at least that I’m aware of. And Fidelity no longer charges commissions on trading, not sure of the others.


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