Deducting Sales Charge for a Class (Front end loaded) A Mutual Fund

[AZ-Tax]

TP calculated the difference between the Offering Price (OP) and the Net Asset Value (NAV) the day after the investment was initially invested. Can that difference(Sales Charge) be deducted as Misc Exps subject to 2% on Sch A?

Or is just included in investment cost basis? Its qualified plan so I would assume the cost basis on the qualified plan will be the OP.

[ATSMAN]

TP calculated the difference between the Offering Price (OP) and the Net Asset Value (NAV) the day after the investment was initially invested. Can that be deducted as Misc Exps subject to 2% on Sch A?

Or is just included in investment cost basis? Its qualified plan so I would assume the cost basis on the qualified plan will be the OP.

If the assets are part of a qualified plan there is no separate deduction on Sch A for any sales charges front end or back end. The account will be valued each day based on the closing NAV.