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

To: VincentTH who wrote (470)1/16/1998 1:42:00 PM
From: MJR  Read Replies (1) | Respond to of 5810
 
Two very basic questions on my stock trading.

1) Suppose I sell XYZ for a profit of $1000.00, which I held for 6 months. The commission charges totaled $200. Do I report $1000 or $800 as my taxable income?

2) To report income from the selling of securities, do I simply list all sales with their gains/losses on Schedule D and total them up? or is there something more I need to do. Both my gains and losses will be less than $3000.

Thanks in advance,
Mike


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