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Strategies & Market Trends : IRS, Tax related strategies--Traders
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To: DSPetry who wrote (806)4/17/1999 3:43:00 PM
From: Nelson Chang  Read Replies (1) of 1383
 
>>>The CPA on there said you can deduct all of your commissions on your annual trades....

Is this done seperately, or figured into the profit/loss of the trade?

Dave<<<

This is a very important question. On the Schedule D, profit/loss is after taking into account sale, cost basis, AND commision (broker, SEC, etc.). So from the profit/loss gain standpoint it has been taken into account. However, this could also be seen as a trading expense. In which case, traders could use it to offset income from cap gains.

Colin, could you please address this?

Thanks.
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