Etrade Close Bank Account

Question is related to Stock Trades that I made in the year 2008 and filling my Tax Return?

Actually..I earned close to 80K in a year…and when I was filling my tax return, It was showing that I would get close to 5K back from govt. (this is after I put my interest earned on couple of banks and my W2 income)…However…When I added my etrade account information(which shows that I have made some 36 transactions), the refund money that I was getting 5K, came down to 300$…meaning I would loss those 5000$ of tax return if I include my eTrade Account Information. Fact is that Yes, I have made few stocks trade but those were not significant enough. I calculated my gain/loss and it seems I earned around 700$ of money through Stocks..But the Price that I would pay for that 700$ is 5000$…Which ofcourse does not make sense to me…So..My Question is that……Do I have to show my etrade account information while filling my tax return? If Yes, Then How Do I adjust that so that I do not loose my tax return money.

1. You have to show the sales.

2. Look at those 36 transactions. Compare the sale price with the cost basis. If you sold at a gain, the gain is taxable. If you sold at a loss, but rebought the same stock within 30 days, you can’t claim the loss.

You say your net gain was $700. Your tax return is suggesting the gain is closer to $15-20,000.

Mama’s Bank Account $9.16 No Synopsis Available

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