Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: rruyy Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121332  
Subject: Tax Help Date: 2/22/2004 12:00 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0

I started doing my taxes using Turbo Tax and my biggest problem is that I have a gazillion stock trades.

Anyway here are some questions.

I did my trades on Ameritrade. Is there a way I can download those trades directly into TurboTax?

If not can I just claim all the purchases of a certain stock that I bought and sold as 1 purchase and 1 sale?

Can I deduct interest from margin? If so what form is that?
Can I deduct trading fees? If so what form is that?

And I have bought and sold options. Can I just list these on the form where the stocks sales are or do I have to use the one with the "Straddle stuff" in it? If I have to use the one with the "Straddle stuff" what does this mean "Unrecognized Gain on Offsetting Positions" and "28% Rate Loss for Collectibles and Small Business Stock."


In essence I have about 300 trades and I don't think I can manually follow what all this "unrecognized gain" at every sale. Can't I just add bunch like shares into some consolidated bunch on both the purchase and the sale. This is a nightmare!

Thanks in advance.

rruyy
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | 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.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

Ringing the NASDAQ Bell
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
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