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Strategies & Market Trends : From the Trading Desk
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To: steve goldman who wrote (3164)6/6/1998 5:21:00 PM
From: Gary Payton  Read Replies (2) of 4969
 
Steve-

I just had a quick question about taxes. From our gross trading profits, can we deduct brokerage commissions and other investment expenses (such as SI membership). For example, say I start the year with 100K, and at the end of the year, my account reflects that I have 200K in cash. However, I spent 10K trading in commishes. Am I responsible for paying taxes on 110K or just 100K?

Thanks,
Garrett
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