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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: CommanderCricket who wrote (83154)	4/17/2007 9:02:03 AM
From: CommanderCricket	Respond to of 206161

Here's the full report on basis reporting Worth reading to understand the issues gainskeeper.com

To: CommanderCricket who wrote (83154)	4/17/2007 9:13:37 AM
From: Keith J	Read Replies (1) \| Respond to of 206161

CC, Why stop there? Why not have the brokerage houses determine the actual gains and report those to IRS to ensure taxpayer forms are correct. And better yet, why not have the brokerage houses determine the tax owed and collect that as well? But I digress. I would be happy with an increase in the capital loss carryover from $3000 to something higher, as I think I read this has not been adjusted since 1979! KJ

To: CommanderCricket who wrote (83154)	4/17/2007 10:16:54 AM
From: ChanceIs	Read Replies (1) \| Respond to of 206161

>>>IRS & Congress Focused on Proper Basis Reporting by Taxpayers - What That Means To You<<< I think that this is how we got the Alternative Minimum Tax. >>>It is expected to raise $6.7 billion over ten years by making sure taxpayers properly report their adjusted basis of stocks and securities sold and the corresponding gains and losses recognized on their tax returns.<<< Didn't FEMA blow half of that in a month on KatRita relief??? Why all this fuss over $600 million a year??? I have been grinding through one of my aunt's taxes. I believe that if I costed my time out fully, should I be an independent tax consultant, my bill would be half of her tax paid. Like I always have said - there are potholes in the road in front of my house. This is an allocation of resources issue. What is more important...a very accurate tax form in an IRS office in Cincinnati whose denizens don't even understand what a stock option is, or a smooth road surface in front of my house. There is great dignity in manual labor. I just don't understand. Well I guess I do....have to make things equal.