Hello! I was wondering how taxation (presumably treated as a capital gain) is calculated in the following scenario when you engage in spread trading futures. I've read on PwC country guide for Sweden that "Losses from the sale of private real property, securities, etc. are generally only 50% or 70% deductible. A tax credit may be applicable in certain instances (see the Other tax credits and incentives section)." Day-1: You buy the Gold/Silver inter commodity Spread (i.e., buy GC and sell SI). You end up buying 1 GC at 1575.00 and sell 1 SI at 17.95 - a few hours later the prices drop - GC drops to 1565.00 and SI drops to 17.50 so you close out your position resulting in... GC: 1575 - 1565 = 10 * $100 = $1000.00 Loss SI: 17.95 - 17.50 = 0.40 * $5000 = $2000.00 profit Total profit on the above spread is $2000.00 - $1000.00 = $1000.00 Day-2: You buy a Crude calendar spread (buy Jun-20 at 54.00 , sell Aug-20 at 55.00). You were correct again - close out the spread a few days later by selling Jun-20 at 55.00 and buying Aug-20 at 55.50. CL Jun-20: 55.00 - 54.00 =1 * $1000 = $1000.00 profit CL Aug-20: 55.00 - 55.50 = -0.5 * $1000 = -$500 loss Total profit on Spread = $1000 - $500 = $500 profit. So total profit on winning trades = $2000 + $1000 = $3000.00 Total loss on losing trades = $1000.00 + $500 = $1500.00 Given the above transaction how is the tax calculated? Will you have to pay 30% capital gains tax on $3000.00 - $1500.00 = $1500*30% = $450 (tax)? or $3000 - ($1500.00 * 70%) = $1950 * 30% = $585 (tax) (i.e., only 70% of the lossing trades total is offset against the winning total). Also, are you able to deduct transaction costs such as broker commissions and exchange transaction fees? In addition, can you also deduct trading platform fees, exchange market data feed from your profit?