https://www.taxtmi.com/forum/issue?id=1002 Shares kept by a stock broker for investment are capital assets taxable as capital gains on sale; shares treated in accounts as purchases, sales and stocks-in-trade are stock-in-trade and taxable as business income. The broker's tax characterization depends on the capacity in which he acts for each transaction, and trades made on behalf of clients are taxable in the clients' hands. en-us Sat, 10 Jan 2009 16:54:39 +0530 Thu, 23 Jan 2025 15:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1002 Shares kept by a stock broker for investment are capital assets taxable as capital gains on sale; shares treated in accounts as purchases, sales and stocks-in-trade are stock-in-trade and taxable as business income. The broker's tax characterization depends on the capacity in which he acts for each transaction, and trades made on behalf of clients are taxable in the clients' hands. Discussion-Forum Income Tax Sat, 10 Jan 2009 16:54:39 +0530 https://www.taxtmi.com/forum/issue?id=1002