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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (36825)	4/24/2002 10:12:01 AM
From: Logain Ablar	Read Replies (1) \| Respond to of 68046

Hi Harry: 1) You need the total year amount and if its not summarized in your December statement you'll have to call the broker to obtain the full year amount. 2) In the US it can be treated 2 ways. a) Non active traders are able to claim the deduction as an itemized deducton on Schedule A to the extent of investment income. b) Active traders (a whole set of rules and an election to ensure you qualify for this status) can claim the expense on schedule c, no limitation and its a reduction to ordinary income. Trading gains / losses are reported on a separate form of the US return (4797). Sorry I can't help on the Canadian side. Tim