I have bought and sold stocks and am clueless about how to report
losses or gains to my accountant at tax time. This year I sold two
that I lost a great deal of money on. There were times when I bought
and sold shares of each of these stocks. Is there a software product
that will enable me to figure out what I lost or gained on stocks by
entering the transactions? What makes this complicated is that I sold
some shares in years past then bought some more. When tax time came I
didn't report losses because I didn't know how. How do I begin to
take care of these gains and losses, or how do I straighten out this
mess?Your accountant should walk you through this. Your answers to his/her
questions will lead to more questions and answers and you'll get
through it. Be open with your accountant about your anxiety regarding
this process. If you do not get the kind of service you need, get a
new accountant.You will get a 1099 from the broker. All you need to do is take that
to your accountant. It will probably come to you in March of 2005.#If you have any other info about this subject , Please add it free.# |
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8 January 2009 |
cameltoepants.com |
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