The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: New account - strategy for taxes?||Date: 4/17/2013 3:10 PM|
|Author: Hohum777||Number: 118462 of 123001|
How many dividend-paying ideas are you talking about?
If you are talking about less-than-10 names, your fears about it being complicated are overblown.
Three tools that can help
1. Start a spreadsheet.
One can make it fancy or complicated if one wants. I had eight columns to start but six
columns is all one really needs.
Purchase date, # of shares purchased, Cost, Sales date, # of shares sold, Sales. The "stocks"
that caused me to choose the spreadsheet solution were Canadian Royalty trusts (Canroys), many
of which paid their distributions on a monthly basis. One doesn't even have to update the
spreadsheet on a monthly basi