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Commission, Fees and Taxes?

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Legendary Market Wizard
Houston, TX
Trading Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
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caleb View Post
I am wondering how commissions and fees are treated in relation to taxes. From what I can find it sounds like you subtract commissions from your gains.

Say I have $10000 in gains for the year, $1000 in commissions and $1000 in fees. Would my capital gains be $10000 - $1000 = $9000?

I'm US based and a part-time trader with a regular job.

Agree with everything said about profits, commissions and 60/40 and $9k in gains. But what do you mean when you say $1000 in fees? I think you will find that things like data fees, subscriptions etc can NOT be deducted from gains and losses the same way commissions are but have to be itemized as investment expenses. But as @mattz said, best person to ask is an accountant.

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