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The commissions would be deducted from the Sales Proceeds. In most cases the amount reported has already been reduced by any fees or commissions.
However, if you need to report fees, commission, or other sales expenses that were not subtracted from the proceeds reported on Form 1099-B, you can enter these expenses by selecting 'This sale involves an employee stock plan (including ESPP) or an uncommon situation' for this transaction.
See the screenshot below.
The commissions would be deducted from the Sales Proceeds. In most cases the amount reported has already been reduced by any fees or commissions.
However, if you need to report fees, commission, or other sales expenses that were not subtracted from the proceeds reported on Form 1099-B, you can enter these expenses by selecting 'This sale involves an employee stock plan (including ESPP) or an uncommon situation' for this transaction.
See the screenshot below.
Where do I deduct commissions and fees for stock. I have made loss in the trading. 1099 from TD Ameritrade is not reflecting the commission and regulatory fee. thank you
The IRS does not allow you to write off transactions fees, such as brokerage fees and commissions, when you buy or sell stocks. Instead, you can add the amount of those fees to the purchase price of your stock. The purchase price plus the cost to acquire your stock equals your cost basis.
TurboTax has made allowances to make this correction.
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