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A couple of years ago I bought 30 shares of a stock. Since then the stock split a couple of times and I ended up with 180 shares, which I recently sold. My problem is: how do I declare this correctly on the tax form? I fear that showing I bought 30 shares and then sold 180 shares would not be the correct way to present this transaction, and it would look odd from the IRS's point of view. What is the correct way to report this?
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Your cost basis for the now 180 shares is what you paid for the original 30 shares. Just list the sale of the now 180 shares on Schedule D, as a long-term transaction if you've owned the shares for more than one year. Stock splits happen all the time, so it is no big deal to the IRS.
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