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Author: jeffatkins One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124972  
Subject: Re: Let me also add Date: 5/29/2000 7:20 PM
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<<alot of the losses was due to commision charges as well. Paying 7 bucks a trade each time tobuy and sell? Does my commisions also count as capital gains

Commissions are included in your cost basis for the stock. If you bought 100 shares of XYZ @ $50/share and paid a $7 commission, your total cost basis (and what you report to the IRS) is $5007.

<<Another question I have a bought sometimes the same stock, like 50 shares of XYZ, then another 50 shares of XYZ. Then sold say 75 XYZ? How do they tell
which shares I am selling. The ones I bought at 75 or the ones I bought at 50. Or does that not matter, just my total gains or losses counts?>>

You are getting into some complicated stuff here... identifying lots of stock, wash sale rules, etc. If you didn't identify the lots at the time of sale, I think it is too late now, and there probably isn't a way to do it and still get $7 trades. I'd recommend that you visit and enter all of your transaction data there.

If your net loss on stock/option trading was $4600 last year, $3000 is deductible for 1999 and $1600 carries over to next year. This will reduce your AGI by those amounts for those years, and will decrease your taxes by some percentage, probably 28-31% (whatever tax bracket you are in).
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