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Do you know that? In typical broker-dealer tax reporting, gross sales would be reported as $10 billion dollars if you made 1000 low margin transactions with $10
by lend000 5y ago
Do you know that? In typical broker-dealer tax reporting, gross sales would be reported as $10 billion dollars if you made 1000 low margin transactions with $10 million dollars. OP's point certainly isn't dumb and I'm now curious about how it's actually measured.
- listenallyall 5y agoYes, I know that. Also, I never said the OP was dumb.
- lend000 5y agoYou might have improved your original (or subsequent) comment by referencing a data point, source, or explaining why that isn't the case. Or even e.g. "source: I'm familiar with accounting rules in the industry."
- listenallyall 5y agoOften, brevity is most effective. Source: human being with life experience.
- EdwardDiego 5y agoWork it through. Person X spends $10 at casino C. C has gross profit of 10 at this point. X wins! C pays X $100. C's profit on X is now 10 - 100. X puts their $100 back into casino and leaves sadder and hopefully wiser. C's profit is now 10 - 100 + 100. In other words, $10.