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Should be fairly self-explanatory. The specific instructions for column (d) of Sch D appear below. In short, adjust your cost (or other) basis (column (e)) in order to arrive at the exact gain(loss); don't adjust the gross proceeds shown on your 1099-B. "Column (d)—Sales Price Enter in...

IOM leases right now are running $3300-$3500/mo. There's also the issue of applying for membership which involves, inter alia, submitting a (rather detailed) application form, fingerprint card, photographs, financial statement, registering with the NFA, attending an orientation session, and...

Actually I believe he was a member of some (unspecified) managing director's committee. But, then again, they have so many committees it wouldn't surprise me to learn someone nominated his Golden Retriever to serve on one of them.

Hey, no fair! I thought you had to open an account to get the book. Also, what's the deal with the internet rebate? Clients qualify for a $39.95 credit if they do 40 trades/mo? Not bad!

"'The war on terrorism,' says Professor Paul Rogers, of Bradford University's Department of Peace Studies, 'is simply a euphemism for extending US control in the world, whether it is by projecting force through its carriers or building new military bases in central Asia.'" Yeah, right, as if...

Although that seems pretty goofy, in many cases it's mutual funds and REITs that are the problem. In fact, the IRC actually prevents them from determining the character of distributions until after the end of the year. I think the SIA had recommended an extra two weeks (until 2/15) for the...

Well, their web site is certainly nice. They've done a great job of explaining the basics in a organized format. If nothing else, it's worth poking around for a few minutes.

I agree. Putting your funds in the hands of established =clearing= FCMs makes this sort of crap much less likely. In fact, it reduces the probability to just about zero.

Regal appears to be tough to beat if you do size. However, the $29 unlimited rate only applies to equity options. Index options are $1.25 per contract with a $29 minimum. FWIW

Good God! Just came across this thread and, out of curiosity, did they indicate why the increase is so dramatic? I mean, something on the order of 50% has got to irk a lot of clients.

Alright, JJ, let's assume this is indeed the case. Does VL even offer a fund that invests exclusively in stocks ranked #1? I can't find one that does so. They offer several equity funds but, according to the prospectus for each, they invest in stocks ranked #1 and #2 (and even some ranked #3)...

Soft dollars don't appear to be too problematic provided proper disclosure is made and, generally, the primary purpose is research. What these people consider "research" is another matter (as well as where the research is done which probably too often, as Don intimated, is in a tropical resort...

For futures, yep, commissions (as well as certain other fees) should be included (i.e. deducted) on your 1099-B.....different than stock sales which merely show gross proceeds.

One thing's for sure, expenses certainly don't help. Compare Vanguard's Index 500 with the Value Line Fund assuming a $10k investment and 5% annual return. Your hypothetical expenses for five years would be around $100 for the Index 500 and about $550 for VL. Hypothetical expenses at the end of...

I recall people starting to talk about this (seriously) probably 5 years ago. When it reached a fevered pitch a few years later, the argument was made that the last hurdle to all-electronic-all-the-time could only be Y2k concerns. Obviously, those are well behind us. Parenthetically, the...

Arrrgghh! You're right. I just looked at mine (not from IB) and commissions were factored in. Only thing I can suggest is contact them immediately and demand a corrected 1099. If you want (or need) to file before that, your idea of attaching a note (maybe with copies of statements, if...

trader388, Adjust your cost basis to reflect the amount of the commission........upward that is :)

I don't think Milken will ever work in the industry again but then, with over half a billion in net worth, I suppose he doesn't much care. It amazes me how these guys always seem to land on their feet, ultimately.

Hope so! Isn't our goal to remit, say, $25M in estimated tax payments per quarter as a result of trading profits (well, I'll settle for the whole year if it's $25M:D )??

In My Humble Opinion. Your broker should send you a 1099-B if you've had any sales in your account during the previous year. You probably should have received one by now (or should shortly) since I believe they have to be mailed by January 31st.