Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (1604)	12/15/1998 11:19:00 PM
From: Baghul	Read Replies (2) of 5810

I am not sure what you mean by ticket confirmations. Lets take an example. I buy 10 shares of INTC at 110 and pay commission of 9.99. A while later I sell the shares for 130 and pay same commission. Are the following calculations right? Buying cost: 10 shares @ $110 = 1100.00 Commission = 9.99 ----------------------------- Total = 1109.99 Selling cost: 10 shares @ $130 = 1300.00 Commission = 9.99 ---------------------------- Total = 1290.01 Capital Gain = 1290.01 - 1109.99 = 180.02 Assuming you are in the 28% bracket you would pay 0.28*(180.02) which comes out to be about 50 in taxes. Is this what you mean by the new system. Thanks in advance

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