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: bruce bell who wrote (1694)	12/31/1998 12:07:00 PM
From: Colin Cody	Read Replies (1) of 5810

Bruce, 1. If you have $6000 loss from investors stocks and a $12,000 gain can you offset the gain with the loss and if you can which schedule do you use? Depends on what type of $12,000 gain you have. If you mean a $12,000 gain from stocks, then it all goes on Sch D 2. If you have a $2000 loss in both trader's stock and investor's stock how do you handle this? Normally they get reported on Sch D without any differentiation required or recognized, but for clarity you might keep them grouped together. This area has other options and many "gray areas" and should be discussed with your own tax advisor who is aware of your personal situation. Colin

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