I was charged a $38 "Mandatory Reorganization Fee" by ETrade when a stock had a reverse split. Is this tax deductible? If not, do I add it to my tax basis?
It used to be tax deductible if your investment expenses exceeded 2% of your AGI, but it's no longer deductible. I'd consider looking at alternative brokerage firms as that seems very high. In my opinion, these types of fees are likely to increase across the board to offset the zero trading commission marketing efforts.