Managed account fees as a ST Loss?

[Carolbeck]

I heard today from one of my clients of the following from his broker:

Managed Account Fees. He says that fee can be declared on a Schedule D as a short term capital loss, if Schedule A is overloaded. The fee is the cost basis and the sale is zero.

I have always claimed the Investment fees on Schedule A, is the above correct?

Sorry to be a pain, I just never heard of this.

Thanks,

Carol

[michaelmars]

never heard that because its not true

[Carolbeck]

never heard that because its not true

Thank you! i thought so too. This client is a PITA.