This is the first year I have had IB and traded futures exclusively. On the "2003 substitute composite statement of 1099 forms" that I received from IB, it only has 4 lines to it. I assume I have the line 1a and 1b entered correctly on my form 6781, but does anyone know where I should put the amount for "commissions paid"? If I remember correctly, last year, my broker at the time had that amount already deducted from the overall gross profit/loss totals that I entered on the 6781. Advice would be appreciated.
I have the same question. My assumption is it may be subtracted from profit or added to loss. Nothing I could find in instruction to tax form. Just my opinion.