Commission split buying stocks?

[Dave Reed]

On Tuesday 02 November 2004 16:22, Derek Atkins wrote:
> Dave Reed <drlinux at columbus.rr.com> writes:
> 
> > I know this makes it easier to track exactly how much you've paid in
> > commissions and the exact prices you bought/sold at, but doesn't it
> > make your taxes more difficult. I always enter the price that 
includes
> > the affect of the commission since that is what affects your basis 
for
> > tax purposes.
> >
> > For the above example, I would say I sold the 10 shares at $8.005 a
> > share. The difference is usually not that much, but the above
> > commission is pretty large relative to the amount sold.
> >
> > Is what I'm doing wrong?
> 
> I think so, yes, but you'll have to ask an accountant.


While I don't expect a definitive answer from the list saying what I'm
doing is right for my taxes, I thought this was fairly common.

This appears to show I am calculating the basis and gain/loss correctly.

http://taxes.yahoo.com/guide/begin/capgains.html
 
Now it doesn't say that accountants would be happy with the way I'm
entering it. I'm dangerous because I understand the basic concepts of
double entry accounting and know a fair amount about tax issues for
individuals but have not had formal training in either. I may end up
with the correct result for my taxes, it's not the way a professional
accountant would like to see the bookkeeping done.

Dave