"Sad Beautiful Tragic (Taylor's Version)" is a song Taylor wrote, probably, in 2011, in the middle of her tour bus after a show of the Speak Now World Tour. Some assume that the song is about Taylor Launter, but others think it's about Jake Gyllenhaal, they both are ex-boyfriends of Taylor.

The song is about a break-up and ending of a "sad, tragic, beautiful" love affair

Swift told Billboard:

""Sad Beautiful Tragic" is really close to my heart. I remember it was after a show and I was on the bus thinking about this relationship that ended months and months before. The feeling wasn't sadness and anger or those things anymore. It was wistful loss. And so I just got on my guitar and I hit on the fact that I was thinking in terms of rhyming: I rhymed magic with tragic, changed a few things and ended it with what a sad beautiful tragic love affair. I wanted to tell the story in terms of a cloudy recollection of what went wrong. It's kind of the murky gray, looking back on something you can't change or get back."

Lyrics-

Long handwritten notes, deep in your pocket
Words, how little they mean, when you're a little too late
I stood right by the tracks, your face in a locket
Good girls, hopeful they'll be and long they will wait

We had a beautiful magic love there
What a sad, beautiful, tragic love affair

I'm dreams, I meet you in warm conversation
And we both wake in lonely beds, different cities
And time is taking its sweet time erasing you
And you've got your demons
And darling, they all look like me

'Cause we had a beautiful magic love there
What a sad, beautiful, tragic love affair (Whoa, oh, whoa, oh)

Distance, timing, breakdown, fighting
Silence, the train runs off its tracks
Kiss me, try to fix it, could you just try to listen?
Hang up, give up, and for the life of us we can't get back
A beautiful magic love there
What a sad, beautiful, tragic, beautiful, tragic, beautiful

What we had, a beautiful magic love there
What a sad, beautiful, tragic love affair
We had a beautiful magic love there
What a sad, beautiful, tragic love affair