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Author: lorenzo2 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121585  
Subject: Re: First 1099 of 2003 Date: 2/7/2003 4:57 PM
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if I had calculated the cost basis for the drips I closed last year when I closed them

I do things as I go - much less stressful, and everything's fresh in my mind. Plus, it nicely spreads out the work over the year:

- When I buy a stock, the very first thing I do is enter the date, number of shares purchased, and basis (cost + commission) in my basis spreadsheet, one page per stock.

- When I sell a stock, the very first thing I do is enter the date, number of shares sold, and net price in the same basis spreadsheet. While it's right there in front of me, I calculate the basis of the sold shares, work out capital gain/loss, and then make a one-line, Schedule D type entry in a second capital gain worksheet. By the time I make my last sale in December, my Sched D is essentially done - it's just a matter of waiting for the 1099-B from the broker in late January and verifying that my total sales figure agrees with his.

Lorenzo
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