are commissions and costs tax deductible?

NexusFi · 2023-08-28T19:20:56-04:00

I daytrade futures. Are my commissions tax deductible as a "cost of doing business?"

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Updated August 28, 2023

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August 28th, 2023, 06:27 PM	#1 (permalink)
podowitz Atlanta, GA Elite Member Experience: Beginner Platform: Ninja Trader Trading: es Posts: 57 since Feb 2012 Thanks Given: 45 Thanks Received: 19	I daytrade futures. Are my commissions tax deductible as a "cost of doing business?"

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August 28th, 2023, 07:20 PM	#2 (permalink)
jneedle San Jose, CA Elite Member Experience: Advanced Platform: NinjaTrader Trading: Forex Posts: 24 since Oct 2015 Thanks Given: 7 Thanks Received: 33	The tax statements from your brokers show your net profits/losses, which includes any commissions and fees. You don't need to track those separately.

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Last Updated on August 28, 2023