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Financial Planning / Tax Strategies


Subject:  Re: Tax tips for Newbie? Date:  2/22/2000  8:47 PM
Author:  RooCat Number:  29657 of 127638

I obtained Schedule D, and got confused again. There are only 4 rows(Part I, 1) to write down transaction, however, I made more than 20 times of transaction this
year. Do I have to get different form, or just use 4-5 copies of Schedule D. Also, writing in cost basis indicate ignoring buy/sell commision fee. I thought I can use commision fee as expense for capital gain/loss. What's going on?

You need to get Schedule D-1, Continuation Sheet for Schedule D. You will take the totals from D-1 and put them on line 2, Schedule D. No, there is no place in the instructions that indicates you ignor commissions. As a matter of fact, the instructions clearly states that your sale price is gross proceeds less</> commissions and that your cost basis is price you paid plus commissions (See instructions for Schedule D under sales price and cost basis).
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