I received a consolidated 1099 from my online broker. Box 2 states "stocks, bonds, etc. Gross proceeds less commission & option premium". Do I take that total amount and subtract that from what I initially paid for every stock (minus the commision) for my total losses or gains on the supplemental D ?? First timer with stocks, the total amount says 56.10. Would this be my procceeds or total amount invested by me? HELP?!
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August 13th, 2010 at 3:49 pm
Your cost basis is what you paid PLUS the purchase commission.
Your sales price is what is shown on the 1099-B.
You have to list each and every transaction on schedule D or D-1 (hint, look at the D-1 and set up a spreadsheet that matches it–then use the spreadsheet as the D-1).
You are accounting for sales of $1056.10. I have no idea how much your gain/loss was.