Capital Gains and Losses

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I am a self-employed stock/options/futures trader and
I am a self-employed stock/options/futures trader and investor. My full time job is trading and investing my own money and I currently file my personal income taxes using Form 1099.My father and I wan… read more
JeffS6413
JeffS6413
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I would like to know why my capital gains are double in
I would like to know why my capital gains are double in doing my tax returns? As I look at Schedule D, My capital gains are added up twice. First they are reported on line 8a, Short and long term gain… read more
emc011075
emc011075
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I had a stock trading account for several months in 2016. I
I had a stock trading account for several months in 2016. I pass the material participation test, and was responsible for all trading in the account. The result was a $13,366. capital loss. Can I dedu… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I have a PFIC related question. I elected market-to market
I have a PFIC related question. I elected market-to market status in regards ***** ***** with the IRS. Can I carry losses forward ? For example 2015 Bought 400 shares avg $40, sold them for$20 2016 Bo… read more
Dr. Fiona Chen
Dr. Fiona Chen
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With closing a business that was active for 20 years,
With closing a business that was active for 20 years, recently closed with a total long-term capital losses of . The questions is, can a person sell stocks that will bring a short and/or long term PRO… read more
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1). How can Investments/Returns/Gains in the NON-US Mutual
1). How can Investments/Returns/Gains in the NON-US Mutual funds NOT be treated as investments under the Passive Foreign Investment Company (PFIC)? What documents should the the NON-US Mutual funds su… read more
Barbara
Barbara
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I bought 1/2 position in 2012 and another 1/2 position in
I bought 1/2 position in 2012 and another 1/2 position in 2014. The stock was merged/taken over in 2015. The merger was 1 for 1 and an additional 16.50 in cash. I sol not shares. My 1099 form stated t… read more
Stephen G.
Stephen G.
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Bought and sold pfic stocks within same year 2015 at loss,
Bought and sold pfic stocks within same year 2015 at loss, should I report the losses on sch D to offset regular common stock gains? The article says "a loss of section 1291 fund is not recognized", b… read more
Tax.appeal.168
Tax.appeal.168
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I bought and sold pfic stocks in the same year 2015, now I
I bought and sold pfic stocks in the same year 2015, now I don't have any. most of stocks have losses, but two of them have very small gains. about two of the pfic stocks have a little distributions (… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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Hi,Id like to get your input on Schedule A and B in Part
Hi, I'd like to get your input on Schedule A and B in Part I on Form 3520 that I need to file for tax year 2011 when the Canadian Mutual funds were purchased (transfer to a foreign trust). I'm thinkin… read more
taxmanrog
taxmanrog
Master's Degree
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Hi, you seem to know a lot about the market to market election
Hi, you seem to know a lot about the market to market election for day traders. I know that the election must be made prior to the tax filing deadline. What form must be used to for the filing of M2M.… read more
jgordosea
jgordosea
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Bachelor's Degree
3,161 satisfied customers
I bought couple of mutual funds (X, Y) in Apr 2011. I have
I bought couple of mutual funds (X, Y) in Apr 2011. I have losses in 2011 on both X & Y and my tax preparer showed the losses in form 8621. However these losses are not included in any schedule. Of th… read more
Stephen G.
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I inherited some foreign mutual funds in 2012, upon the demise
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USTaxAdvising
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Question on PFIC stock that has made a mark-to-market election.
Question on PFIC stock that has made a mark-to-market election. I have an opening adjusted basis of $3,000. During the year I had monthly sales of $10/month ($120 for the year) to cover management fee… read more
R. Klein, EA
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HelloI have been investing on Mutual funds in my country
Hello I have been investing on Mutual funds in my country and continue to invest every month. I came to US this year on a work visa and was wondering on whether I need to declare anything about these … read more
socrateaser
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Hello, I have a question regarding filing taxes. I trade
Hello, I have a question regarding filing taxes. I trade in the stock market and have not filed my taxes since 2008, at first because my accountant retired, then because of 2 significant personal life… read more
USTaxAdvising
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In 2011 I purchased a PFIC which is a QEF and I still hold
In 2011 I purchased a PFIC which is a QEF and I still hold it. It paid no income, dividends, etc. Do I need to file a 8621 with my 2011 return or only file it for a year in which a gain, loss or incom… read more
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I have misssed getting the American Opportunity College credit
I have misssed getting the American Opportunity College credit about $3500. TurboTax is showing that I can take a capital gains election of $7092, which is the exact amount of my ordinary qualified di… read more
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