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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?


To: DD™ who wrote (22684)12/5/1998 11:39:00 AM
From: FawnVu  Read Replies (1) | Respond to of 119973
 
Yes...



To: DD™ who wrote (22684)12/5/1998 11:53:00 AM
From: The Street  Respond to of 119973
 
Commissions are considered as basis both in and out.



To: DD™ who wrote (22684)12/5/1998 11:55:00 AM
From: Susan Saline  Respond to of 119973
 
>>>Can broker commissions be deducted/added from/to gains/losses?<<<

yes

In the confirmation slip ....

example ...

buy price ... price x shares = principal + commission = net amount
6 1/4 x 200 = 1250.00 + 18.00 = 1268.00

sell price ... price x shares = principal + commission = net amount
8 1/2 x 200 = 1700.00 + 18.06 = 1681.94

this is how it is entered on a tax return ... schedule D
sales price - cost (basis) = gain/loss
1681.94 - 1268.00 = 413.94



To: DD™ who wrote (22684)12/5/1998 1:43:00 PM
From: TokyoMex  Read Replies (1) | Respond to of 119973
 
Broker comm is part of doing business and you get tax benefit,,