Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Nelson Chang who wrote (2160)	4/17/1999 4:01:00 PM
From: Susan Saline	Read Replies (1) \| Respond to of 5810

nelson >>> >>>The CPA on there said you can deduct all of your commissions on your annual trades....<<< <<< true >>>Is this done seperately,<<< no >>>or figured into the profit/loss of the trade? yes each trade, separately >>>This is a very important question. On the Schedule D, profit/loss is after taking into account sale, cost basis, AND commision (broker, SEC, etc.). So from the profit/loss gain standpoint it has been taken into account.<<< true >>>However, this could also be seen as a trading expense.<<< commissions are expenses true ... sell commission is deducted from gross sales price line 1 d buy commission is added to cost/basis line 1e >>>In which case, traders could use it to offset income from cap gains.<<< it already is included in sales price and cost/basis you may not deduct commission costs twice