Where do I deduct commissions and fees for forex trades?

[ivankaczech]

Hi. Does the same applies to stocks? I did some daytrading and I got charged fees for daytrading platform. I am not a daytrader.

[JohnH2]

It depends on whether you are a trader or an investor.  If you are a trader you should add the commissions and fees to the purchase price of the currency.  You will recover these costs when you sell the position at a gain.  If you sell the position at a loss, these costs will increase your loss.

If you are an investor, you can deduct these expenses in the Other Deductible Expenses section of Other Deductions and Credits as Investment Expenses.  You can enter the Description and Amount for these fees.  See the attached screen shot.