Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: RIBBIT1 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120809  
Subject: Re: 3 simple questions (help me pmarti..please) Date: 2/18/2001 7:05 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
My suggestion to you would be to get one of the commercial tax preparation programs, and use that to prepare your taxes. They are fairly resonably price, are not that difficult to use, and will walk you through the inputs to schedule D for capital gains/losses, and margin interest (which can accessed off schedule A (investment interest) which is limited to investment income). You'll have to know particulars such as when you bought the securities, how much you paid for them, etc. Things such as brokers fees and sales commissions are normally on the statements you get from your brokers, and may even be on the 1099B you get from them. Its very important that you account for all the moneys reported on the 1099B, as that information is reported to the IRS, and will be considered as taxable income, unless you declare and show otherwise. In addition, if you use the same program next year, it will normally roll over any unused capital loss, so you get any advantage from that. Keep in mind that any capital loss you can't take this year will keep its character next (ie short term loss will remain short term, long term will remain long term, etc etc). For what you pay for the program, the headaches you avoid is well worth it. These new ones even have audit programs, check calculations, and just leave a lot less things to chance versus preparing by hand.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Tax Strategies

TMFPMarti-Feeling Good
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement