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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Elroy who wrote (5733)10/21/2020 4:52:45 PM
From: Paul Senior1 Recommendation

Recommended By
Lance Bredvold

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Your trade information is reported to both you and Fed gov by broker on Form 8949 and/or 1099B, which info you summarize as taxpayer on Schedule D. in your tax forms. Broker reports 8949 in sections: long term gain/loss, short term gain/loss, missing info (cost basis unknown for example). You do not have a choice as to allocate shares at this point.

If I understand correctly from some of your past posts, you are not living in USA. If you are a USA citizen have you not filed USA taxes before, or have you not had stock sales wherein you've had to use Schedule D before? Or maybe you have a foreign broker that doesn't report as USA brokers are required to? My only knowledge is of USA brokers.

As to your point as to what I know: I am not a tax expert or financial expert, and I speak with no authority, so you have a right to question me. I could be wrong. Be totally gobsmacked if I were though.
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