Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next
Author: racerboy784 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121773  
Subject: Re: Trading Commission Date: 3/13/2001 10:37 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
So is it right to say then that whatever capital gain/loss we receive when we buy and sell stocks, we can write that trading commission off?


When we sell or buy stocks, is the trading commission considered within Capital Gain/Loss? For example, if I were to buy 10 shares of ABC stocks at $10 + $12 Commission) and I decided it was a tanking company, so I sold 10 shares of ABC stocks at $10 + $12 Commission), can I write the $24 as a loss or based on IRS, it's irrelevant and I eat the Commission?

The $24 is a loss. If you held ABC for one year or less, it is a short-term capital loss (Sch D line 1). If one year and a day or more, it is a long-term capital loss (Sch D line 8).

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next


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.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
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:
Macro Economics

Swiss Franc, Obamacare, Education: Common Theme
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.