Are you reviewing your Consolidated 1099 and are wondering where your total commissions and fees list in your tax forms? Well, look no further than your Proceeds and Cost Basis. In short, any associated costs with trading, i.e., commissions and fees, will already be factored into each transaction listed in the Proceeds from broker and barter exchange transactions section (Form 8949).
For international customers, you can locate your the Proceeds and Cost Basis columns in the tax worksheets posted in our Tax Center.
Refresher on Commissions and Fees
Commissions ≠ Fees
Commissions refer to the fee that tastytrade charges to place a trade. Fees refer to the clearing of trades, exchange-related fees, and regulatory fees passthrough from each respective entity.
How are commissions and fees factored in?
Refer to the Proceeds from broker and barter exchange transactions section in your Consolidated 1099
Example with Options
Similar to the example in the video above, you sell a put for $1.00 credit ($100) and then close it at $0.50 debit ($50).
|Commissions||$1 to open||$0 to close|
|Gain/Loss||$98.80 - $50.20 = $48.60|
|Totals listed on the 1099||$48.60||$0.00*|
* To learn more about the new reporting methodology for short equity options, please click here.
Example with Shares
Let's say you purchase 100 shares of XYZ for $100, then close the shares for $105.
|Commissions||$0 to close||$0 to open|
|Gain/Loss||$10,499.00 - $10,000.50 = $498.50|