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 your Form 8949


Refresher on Commissions and Fees

Commissions ≠ Fees

Commissions refer to the fee that tastyworks charges to place a trade. Fees refer to the clearing of trades, exchange-related fees, and regulatory fees that are passthrough by each respective entity.


How are commissions and fees factored?

Refer to Form 8949 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).


ProceedsCost Basis
Trade Amount$100$0.50
Commissions$1 to open$0 to close
Fees$0.20$0.20
Total$98.80$50.20
Gain/Loss$98.80 - $50.20 = $48.60


Example with Options

Let's say you purchase 100 shares of XYZ for $100, then close the shares for $105.


Proceeds
Cost Basis
Trade Amount$10,500$10,000
Commissions$0 to close$0 to open
Fees$1.00$0.50
Total$10,499.00$10,000.50
Gain/Loss$10,499.00 - $10,000.50 = $498.50