Brokerage account

Taxes General Forum - Tax professionals meeting place and answers to queries. (Moderated) 

Yahoo!   Google   Windows Live   del.icio.us   digg   Netscape

Subject Author Date Brokerage account Chris Ruehrwein 10-14-2008  Re: Brokerage account Phil Marti 10-14-2008
Posted by Chris Ruehrwein on October 14, 2008, 12:13 pm Please log in for more thread options When I sell stocks via (Scottrade, Ameritrade, etc) does the transaction fee for every time I buy or sell get included in the cost basis of the stock? ========================================= MODERATOR'S COMMENT: Yes -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by Phil Marti on October 14, 2008, 12:52 pm Please log in for more thread options "Chris Ruehrwein" wrote: > When I sell stocks via (Scottrade, Ameritrade, etc) does the transaction > fee for every time I buy or sell get included in the cost basis of the > stock? When you buy, yes. When you sell the selling commission either increases your basis or decreases your sale proceeds, depending on how the broker reports it to the IRS. The bottom line is the same. -- Phil Marti Clarksburg, MD -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Similar Threads Posted Gift taxes - 529 account & UTMA/UGMA brokerage account March 11, 2010, 2:04 pm Non US Resident With Brokerage Account in US November 14, 2008, 10:34 pm FIFO with two brokerage accts. July 12, 2007, 7:34 pm brokerage avg. basis vs. nondividend distribution March 26, 2009, 9:35 pm Reconciling Brokerage 1099-B - is there such a thing as close enough? April 1, 2008, 11:39 am ending capital account does not match beginning capital account April 6, 2009, 11:49 am Transfer of 457 Account September 14, 2008, 12:05 pm 401K/IRA *VS* a retail account November 10, 2006, 2:02 am Health Savings Account February 25, 2007, 5:00 am Flex account medical? March 18, 2007, 2:18 am