Trader tax issues
At the end of each tax season, stock
and option traders receive a 1099 from their brokerage which lists
their total gross proceeds from the sale of stocks. The hope is that they can
quickly match these sales to purchases, produce an accurate schedule d, and file
their trader taxes.
Sounds simple, yet most 1099’s fall far short of what is
required for calculating one’s capital gains and losses for tax filing purposes.
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