Can you deduct brokerage fees on your taxes

You can not deduct fees associated with buying and selling investments, such as broker commissions. You include these fees in the cost basis of the stock when you buy, and deduct them from your proceeds when you sell. The statements you get from your broker should reflect the net amounts including their commissions and fees.

You can deduct investment expenses for things like investment advice or other direct expenses that are related to taxable investments. See Pub 550 for details:

Publication 550 (2006), Investment Income and Expenses (http://www.irs.gov/publications/p550/ch03.html#d0e8193)