Replies to post #401 on Taxes (TAX)

[omegahpla]

OMG Really? I love you man! Thanks : )

That's how I thought it should go, but the IRS people really confuse things.

Do I have to wait for the 1099B's to file? Or can I send the totals on another form and file ahead of them? I am at a net loss, assuming I can deduct Stockcharts.com, ihub, wire fees, and all that, though I had a good gain with Scott, and then a Loss with Harmon (mostly because Harmon would not fill the dang orders reliably on semi lower volume stuff, and I got stuck bad on fast PPS movers).

[omegahpla]

Can this all be done (the stock transaction accounting for 1040) on Turbo Tax or Tax Cut?

[omegahpla]

Since I made no profit over all, would it be smart to do taxes simply without reporting trading transactions, and then later send amendments? If I have to wait for the forms from the Broker?

I'm in pretty deep dodo financially, and I could use the refund asap.

AND if you ever have a question on real estate, construction, or creative finance I'd be more than happy to tell you anything I know. I'm a Realtor, also I got caught bad in a project because my partner went stupid / greedy, thus the temporary financial Armageddon lol.

[cintrix]

Whoa, wait a minute here. That is what he needs to put on his Scd D, but what if he were every audited? He still needs to have all his transactions backed up by some kind of an Excel or Quicken scd along with trade confirmations to back up what he put on his D, doesn't he?