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To: katytrader who wrote (62029)3/24/2006 4:20:16 PM
From: manalagi  Respond to of 206099
 
Yes, the brokerage firm only report the gross proceeds from STOCK sale and not the cost basis since it could be quite complex, especially if you sell put and get an assignment, thus lowering the cost basis.

I understand that brokerage firms are not required to report proceeds from OPTION even though we must report those on Schedule "D".