If I sell an ira can I offset that penalty with an expense of a financial consultation fee.

Please clarify what you mean by "sell an IRA" - do you mean take a withdrawal from your IRA account? And by "that penalty" do you mean the 10% penalty for taking an early withdrawal prior to reaching age 59-1/2?

Expenses such as financial consulting fees may be deducted as a miscellaneous deduction, but only to the extent that the fees generated taxable income, and also only to the extent that the total of all your miscellaneous deductions exceed 2% of your adjusted gross income. This deduction has nothing at all to do with reporting income due to an IRA withdrawal or the 10% early withdrawal penalty.