Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next
Author: CrowTRobot Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121146  
Subject: Cost basis calculation (whadda headache) Date: 2/1/2000 10:31 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 7
OK, I looked in the FAQ and couldn't find this. Maybe I'm blind or something. :-)

Here's the scenario I'm looking at: Bought 3000 shares of X on Dec 21st, 2000 shares on Jan 5th, 750 shares on Jan 15th. Sold 4500 shares on March 3rd. When entering this in TurboTax, how do I calculate my cost basis? I got my 1099 and my monthly statements, but I'm not sure how to split this up; do I average the cost basis, and if so, what do I do with the date? AFAIK, I can only enter one date for the purchase.. should I make _two_ sales, one for 3000, and one for 1500, and reference back to the first two purchases of the stock for the cost basis? I'm confused. I got some 80 trades on my 1099 so I better get cracking...

-Crow (don't wanna be audited)
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement