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Replies to #406 on Taxes (TAX)

ypsiCPA

12/29/09 12:56 PM

#408 RE: omegahpla #406

If you have a Schedule C for your realtor business, expenses related to that go there. But investment expenses will go on Schedule A - don't put on your realtor Schedule C!

No, wire transfer fees are not an adjustment to basis. Generally your basis will be the net on the purchase confirmation.