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T O P I C     R E V I E W
MoMoMoney  - posted
im doing my taxes and am filling the Schedule D Form 1040 for Short-Term Capital Gains and Losses.

Im am confused on what the difference is between Sales Price and (Cost or other basis).
What is Cost and other basis?
Thanks.
 
Machiavelli  - posted
Best to ask a accountant or www.fairmark.com
 
metal1  - posted
simply put, cost or other basis is what you paid for the stock including commission
 
BooDog  - posted
tax season is fun tax season is fun taxseason is fun tax season is fun tax season is fun taxseason is fun tax season is fun tax season is fun taxseason is fun tax season is fun tax season is fun taxseason is fun tax season is fun tax season is fun taxseason is fun

all tax and no play makes jim a dull boy! Sure takes a bite outta da profits eh?
 
T e x  - posted
Tax time again, kids...

Good summary here re: the distinction between investor and trader, with good info for electing to go "mark-to-market."

http://www.fairmark.com/traders/index.htm
 
T e x  - posted
Not promoting this software, but scroll down the page and you'll see a good example of the difficulty in figuring out the effects of the "wash sale" regs...

http://www.armencomp.com/irs-schedule-d.html
 
BooDog  - posted
Turbo changed their entry format also. Made up for entering 6 or more figures.
 



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