are futures commisions deducted against gain?

Discussion in 'Index Futures' started by buddhabless, Apr 11, 2006.

  1. buddhabless

    buddhabless

    I have a tax question.

    Let say i make 10K gain trading futures and my total commisions to the broker for the year are 20k? Can i take 20k (commission) - 10k (gain) and get -10k and count it as having a loss for the year?

    I am not filling as a trader status but an individual investor.

    Thanks for answering.
     
    #1     Apr 11, 2006
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  2. winter

    winter

    Yes
     
    #2     Apr 11, 2006
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