cthree

Well I figured out the Canadian part, it's a lot different than the US.

There is no short/long term capital gains distinction. It's what you buy, not how long you hold it.

cthree

Arrrrgggg

So my T5008 form (statment of trading gains and losses) for 2007 shows proceeds from dispositions of ~$5M and no cost basis!?!?!

WTF? (wags finger at Interactive Brokers)

So they report the sum of all stock and option sales but not my cost basis. That's probably ok for those who know how to work the system but for me it's a pain in the ass.

Chris S

^^^ ETrade does the same thing.

It's a hassle, but also to your advantage since it allows you to select the basis if you don't sell all of a given security at one time.