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Old 04-14-2011, 02:07 PM
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Do I report capital gains if taxes were already withheld?

I am determining if I need to report the sale of stock options on my tax return since federal/state taxes were withheld at time of sale. (I received the "net" check after taxes.)

I assume I should report this on my tax return. I received a 1099-like form from the investment bank (called a T5008; its a Canadian investment firm). The same amount appears in both the cost/book value box and the Proceeds/Settlement box. Would I simply report these amounts on my tax return?



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