# Double Transaction Fees

I am currently a foreign resident. When I buy or sell a US security I do it through my bank, who use an American brokerage to do the transaction. On my 1099 forms the buy and sell prices include the transaction fees. However, my bank adds a transaction fee as well, thereby increasing my actual costs and decreasing my actual proceeds.
When I file my tax reports, if I use the 1099 values for cost and proceeds I seem to have made less of a profit (or more of a loss) than I actually did. But if I take into account my bank fees, to show my actual gain/loss the 1099 numbers reported to the IRS will not match, and they may come screaming after me.
Is there any good way to handle this?
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
On Monday, April 8, 2019 at 6:58:50 PM UTC-4, Lawrence Israel wrote:

Use the adjustments in columns (f) and (g) of Form 8949.
Ira Smilovitz, EA
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
On Tuesday, April 9, 2019 at 1:58:50 AM UTC+3, Lawrence Israel wrote:

That enables me to correct either the cost or the proceeds. What if I need to correct both? Correct one of them, with the amount being the sum of the two corrections?
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
On Wednesday, April 10, 2019 at 9:02:18 AM UTC-7, Lawrence Israel wrote:

Column (f)—Code In order to explain any adjustment to gain or (loss) in column (g), enter the appropriate code(s) in column (f). See How To Complete Form 8949, Columns (f) and (g), later. If more than one code applies, enter all the codes that apply in alphabetical order (for example, “BOQ”). Don't separate the codes by a space or comma.
Column (g)—Adjustments to Gain or (Loss) Enter in this column any necessary adjustments to gain or (loss). Enter negative amounts in parentheses. Also enter a code in column (f) to explain the adjustment. See How To Complete Form 8949, Columns (f) and (g), later. More than one code.
If you entered more than one code in column (f) on the same row, enter the net adjustment in column (g). For example, if one adjustment is \$5,000 and another is (\$1,000), enter \$4,000 (\$5,000 − \$1,000).
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>

## Site Timeline

• ### Foreign taxes: Form 1116 or Schedule A?

• - previous thread in Taxes General Forum
• ### Was My Return Received

• Share To

BeanSmart.com is a site by and for consumers of financial services and advice. We are not affiliated with any of the banks, financial services or software manufacturers discussed here. All logos and trade names are the property of their respective owners.

Tax and financial advice you come across on this site is freely given by your peers and professionals on their own time and out of the kindness of their hearts. We can guarantee neither accuracy of such advice nor its applicability for your situation. Simply put, you are fully responsible for the results of using information from this site in real life situations.