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Capital gains/losses tax calculator
January 10, 2021
9:24 pm
Bud
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Is it sold net amount minus buy net amount to arrive at gain or loss for stocks or gross amount before commission

January 10, 2021
9:57 pm
topgun
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Sell - cost = capital gain. Commissions not included since you would claim them as investment expenses.

Have a Great Day

January 11, 2021
5:21 am
Bill
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Actually it's gross proceeds less selling commission less commission-included cost, in the simple case of one purchase event, one subsequent sell event.

Can't claim commissions as "investment expenses".

January 11, 2021
6:35 am
topgun
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You are correct.

Have a Great Day

January 11, 2021
10:22 am
Bud
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So its buy gross amount before commission minus sold gross amount before commission = capital gain or loss

January 11, 2021
11:05 am
Bill
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Don't know how you get that from post #3, Bud.

January 11, 2021
12:09 pm
Norman1
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Schedule 3 of the T1 General return is where capital gains are reported.

It is quite obvious from the form what amounts are needed and that the three amounts are what Bill listed.

The form also mentions the T4037 Capital Gains guide that has details for more complicated scenarios.

January 11, 2021
12:30 pm
savemoresaveoften
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Bud said
Is it sold net amount minus buy net amount to arrive at gain or loss for stocks or gross amount before commission  

I will give u a simple example:

Buy $10000 + $10 commission
Sell $11000 + $10 commission

Your capital gain is $980. 50% of that will be taxable.

Hope it is clear now....

January 12, 2021
6:46 am
Bud
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savemoresaveoften said

I will give u a simple example:

Buy $10000 + $10 commission
Sell $11000 + $10 commission

Your capital gain is $980. 50% of that will be taxable.

Hope it is clear now....  

Subtract commissions/fees then from buy n sell order to come up with capital gain or loss. In this case a $1,000 gain minus commissions of $20 leads to the final capital gain of $980 reported on tax return.

Reverse if it was a loss the final loss would be after commission is subtracted out:
Sell $10000 + $10 commission
Buy $11000 + $10 commission
Loss = $980

Bottom line subtract commission trading fees out of calculation

January 12, 2021
7:14 am
savemoresaveoften
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Bud said

Subtract commissions/fees then from buy n sell order to come up with capital gain or loss. In this case a $1,000 gain minus commissions of $20 leads to the final capital gain of $980 reported on tax return.

Reverse if it was a loss the final loss would be after commission is subtracted out:
Sell $10000 + $10 commission
Buy $11000 + $10 commission
Loss = $980

Bottom line subtract commission trading fees out of calculation  

wouldnt loss be $1000 + $20 = $1020

January 12, 2021
10:05 am
Bill
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I agree, savemoresaveoften.

January 12, 2021
10:34 am
Norman1
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That's right:

(2)
Proceeds
of
disposition
(3)
Adjusted
cost
base
(4)
Outlays and
expenses (from
dispositions)
(5)
Gain (or loss)
(column 2 minus
columns 3 and 4)
$10,000.00 $11,010.00 $10.00 ($1,020.00)
January 12, 2021
12:35 pm
Bill
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The rules predate discount brokers, diy. Commissions used to be way heftier back in the day, they're now immaterial.

Please write your comments in the forum.