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

To: Terry Lyon who wrote (682)2/28/1998 2:00:00 PM
From: Brendan W  Respond to of 5810
 
Terry, you can only deduct the commissions once ... when calculating your gain/loss on Schedule D. Any other account fees, asset management fees, etc. can be deductions on Schedule A to the extent they exceed a 2% of adjusted gross income ("AGI") floor.



To: Terry Lyon who wrote (682)2/28/1998 2:14:00 PM
From: Colin Cody  Read Replies (1) | Respond to of 5810
 
Commissions generally are part of the capital asset. They go on Schedule D when you report your trades there.
.
Commissions generally do NOT get deducted elsewhere.

Colin

I see Brandon answered you more completely. I agree with his reply too.


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