are futures commisions deducted against gain?

B

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.
 
Quote from 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.
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Yes
 
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