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Post# of 89919
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Re: rookie2012 post# 7605

Sunday, 02/10/2013 10:08:56 PM

Sunday, February 10, 2013 10:08:56 PM

Post# of 89919
rookie, for Etrade tax info here is what you will do.

Firstly, you have your 1099 form they supplied or that you can print from their site which might be several pages (mines close to 24 being I trade more often) long depending how many trades you had. Near the end of it there will be a column listing "Sales price less commissions" (what you netted on your sells) and a column to the right of that "Cost basis" (the total amount you bought in with). Your sales price column is what you "Netted" but will look higher than the $ you actually made as we have to deduct your $ you put in (cost basis) on your Buy along with commissions. NOW, log into Etrade and bring your Portfolio screen up. On the top edge of that you will see a Tab for "Gains/Losses". Click on that. Once on that screen click on the Tax Year for 2012. That will bring up the report with all your trades. On the top edge of that report your will see either a positive or negative (Red) # for your loss. Don't use that # on your taxes as that does not have trade fees factored in. You will also see to the right of that an amount of your Commissions/trade fees. Now, print the report out.

Now, take your Gross Proceeds amount listed on your 1099, minus your cost basis column # to the right of that on your 1099 and then also minus your commissions from that also and you will get your final gain/loss #

Let me know if you have any questions.
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