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Author: NaggingFool Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121261  
Subject: Re: first time capital gains filer Date: 12/16/2001 6:47 PM
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I'm a little bit confused by your message. Let me see if I have this straight.
You bought 4 different stocks in January.
You sold one stock in June.
You bought another stock in June.

So you only sold one stock in 2001.

Since you held that stock for less than a year it was short term. (I don't know if that was a gain or a loss because you didn't say if you sold it for more or less than you bought it for.)

Every time you sell a stock it's relevent for tax purposes. If you sold that stock for less than you paid for it it's a loss. If you sold it for more than you paid for it it's a gain.

What confuses me is your statement "overall loss". If you've only sold one stock that's the only amount that matters on your taxes. You don't report the stocks that you didn't sell on your taxes.

So let us know if I'm reading your message right and if you have a gain or a loss on the stock you sold, and then we can help you figure out what to do with the tax forms.

-Megan

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