Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: manalagi who wrote (62027)	3/24/2006 4:12:38 PM
From: katytrader	Read Replies (1) of 206100

I believe that the brokerage house only reports gross proceeds. This allows you to adjust your cost basis without running afoul of anyone's computers. So, for example, if you are short and have to cough up a dividend, you can add that amount to the cost of the stock. Also, if you inherited stock...or simply deposited stock into a brokerage account...the brokerage house would have no way of assigning a cost to the shares. You can see if the brokerage house had to report cost basis there would be millions of discrepancies beyond the usual confusion. katytrader

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