Futures Trading Tax Question

Discussion in 'Index Futures' started by Hambone, Feb 8, 2004.

  1. Hambone


    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. :confused:
  2. Hi Hambone,

    My first thought is that maybe the commissions are already deducted. Do your spreadsheets show this?

    Of course, i've dound that emailing funds part of IB you can get an answer in a day or two.

    Best wishes,