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

To: AS Hibbs who wrote (1906)2/20/1999 2:20:00 PM
From: mod  Respond to of 5810
 
The 1099 is correct, they only show proceeds from sales. You have to calculate what you paid, and therefore the profit or loss, on every trade you made.



To: AS Hibbs who wrote (1906)2/20/1999 2:27:00 PM
From: Colin Cody  Read Replies (2) | Respond to of 5810
 
Scott, Some brokers provide the cost information, other brokers do not.

It is the difference between FULL SERVICE and DISCOUNT SERVICE. You get what you pay for!

NO broker is required to send the cost basis to the I.R.S.

Colin


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