Hello, and thanks in advance for any help.

I have belonged to an angel investment group for the last 5 years. The annual membership fee is $1,000. I have made 5 investments so far. No exits to date, but all are still going concerns. I have not set up an LLC to domicile these investments, but have simply made them as an individual.

The questions are:
- can I deduct the annual membership fee?
- if so, on which form (and line)?
- if so, can I claim prior years' fees without filing an amended return?

If I can't deduct as above, and in the event of a successful exit down the road, could I write off these fees as part of the basis?

Again, any help will be much appreciated. Thanks!