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

To: Colin Cody who wrote (680)	2/28/1998 1:10:00 AM
From: Cents	Read Replies (1) \| Respond to of 5810

Re:The price paid for a CBOE option is part of the BASIS Can you explain this further please? I had bought some puts that expired worthless. Can I use the premium loss to offset any gains? eom Cents

To: Colin Cody who wrote (680)	2/28/1998 11:26:00 AM
From: Terry Lyon	Read Replies (2) \| Respond to of 5810

I have a question about taking a deduction for brokerage commissions. Suppose you made several stock purchases during the year and accumulated a fairly significant net bill for brokerage commissions. Can the sum of these fees be taken as a deduction and on what schedule and is there a deduction limit? I reason that these fees must be deductible as they are excluded when doing capital gains calculations yet are an expense. Thank you in advance. Terry