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Non-Tech : Any info about Iomega (IOM)?
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To: Jon Wagner who wrote (2152)5/28/1996 8:05:00 PM
From: Ed Zhao   of 58324
 
BASIC: You pay tax on capital gain in each sale.

Tax gain means sale price - purchase price, in your case, assuming you sold 100 shares at $55, with commission of $30 for each trade, then the taxable capital gain is:
$5470 - $2530 = $2940. (You can use the amount net of commission and sec fee etc in figuring the capital gain)

Then you are done with tax man about this trade, it's history. It will have nothing to do with your next trade.

UNLESS, you realized a net loss and purchased same stock again within thirty days. Then this trade becomes WASH SALE and ...

ALSO, Capital gain is classified as short or long term. Different tax rate may apply.
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