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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Zeuspaul who wrote (1)	9/30/1997 6:26:00 AM
From: Stox	Respond to of 5810

Hi Z. I assume you are refering to reporting rules for US tax purposes and not persons reporting to Revenue Canada. I am only familiar with rules in Canada and can share some basic info if anyone is interested. el

To: Zeuspaul who wrote (1)	9/30/1997 3:03:00 PM
From: sailor	Respond to of 5810

zeuspaul IMHO (known to be wrong on many occasions) Each buy is treated as its own little island of property. If I buy from the same broker, same day, same price, etc, I treat them like separate buys. Jim As usual, consulate with your CPA.

To: Zeuspaul who wrote (1)	9/30/1997 10:18:00 PM
From: Zeuspaul	Respond to of 5810

What are the pros and cons of FIFO (first in first out) vs LIFO? Is the LIFO (last in first out) method prefered for long term investors? If one grows a position overtime is it true that if you sell a percentage of your holding that you will incur a taxable gain based on the value of the last stock you purchased ? Assuming the stock has gone up in value this would minimize your tax and allow the original holdings to grow tax free? How permanent is the election? Is this a once in a lifetime choice? Is it specific to each stock. For example: Can you make a LIFO election for IBM and a FIFO election for MMM? Can it be reversed?

To: Zeuspaul who wrote (1)	2/21/1998 7:39:00 PM
From: Cosmo Kramer	Read Replies (1) \| Respond to of 5810

To any and all: I have a couple of tax questions regarding an IRA account and a long term profit. I'm going to be placing my IRA money in a IRA account were I can trade stocks, some daytrading and long term stuff. Are the trading fees taken out of my IRA money and if so, does that mean I'm spending it before my golden years...ie penalties?? Could someone explain how to take advantage of a long term gain (over 1 year) I know this is probably basic stuff, but inquiring minds want to know.. Thanks Mark

To: Zeuspaul who wrote (1)	8/20/1998 5:18:00 PM
From: Dale Wingo	Read Replies (1) \| Respond to of 5810

Hi.. I've been thinking about changing some stock certificates that are in my name to an account I've just set up with my wife as a Joint Tenant with Right of Survivor. The brokerage wants me to sign the certificates and then notify the company that the brokerage is to get all drips, etc. Is this a "taxable event" in the eyes of the IRS? Thanks, Dale

To: Zeuspaul who wrote (1)	1/29/1999 7:31:00 PM
From: Rommy B.	Read Replies (1) \| Respond to of 5810

I have a question for Colin or anyone else who may be able to help. As an active trader during 1998, my overall total loss was greater than my overall gains. For example, if my total gain were $10,000 and my total loss were $20,000, could I use my (larger) total short-term loss to offset the (smaller) short-term gains I experienced, or would I still have to pay taxes on my short-term gains? Thanks in advance, Rommy

To: Zeuspaul who wrote (1)	4/2/1999 6:22:00 PM
From: OSHANL	Read Replies (2) \| Respond to of 5810

I have question to any tax experts here. Can I deduct the interest I was charged for the year on my income tax return? If so where I jolt down the interest? Thanks in advance.