- When you purchase the stock, the cost basis equals the quoted market price of the stock, plus the commission paid to your broker to execute the trade. This will give you different cost bases throughout the year.
- The proceeds on the sale of the stock are equal to the quoted market price of the stock, minus the commission paid to the broker to execute the trade. Again, you will have varied proceed amounts throughout the year.
- To calculate the net short term capital gain or loss on a single stock at the end of the year, separately add the total costs and total proceeds. Next, subtract the total costs from the total proceeds to arrive at your net short term capital gain or loss. A net gain is taxed the same as your other income, and a net loss can be deducted from taxable income up to the amount of your capital gains plus $3,000.
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