You'd reduce the basis on your 1099-B by that 987 (whatever you paid, less 987, is the correct basis).
The reason is that you're reporting income and deductions elsewhere on your return that lower your taxes (net): $15 interest - $977 loss on straddles - $25 investment expense = -987
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
