You'll need to sign in or create an account to connect with an expert.
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.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
193172360c2d
New Member
Mgentile65
New Member
sherri2020
New Member
lindsayjo_b
New Member
tbduvall
Level 4
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.