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Author: mfishb Two stars, 250 posts Old School Fool Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 27804  
Subject: Re: DRIPs and taxes Date: 6/12/2012 3:53 AM
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I'm talking about stock in a DRIP for well over ten years. In terms of records, I have end of the year statements for all years, which include the entries for all four quarters, but we are talking about well over forty different purchases each at a different price. Am I really expected to list all these to get to a total cost basis? Also, if I reported the dividends based on each year's 1099, if I modify cost basis based on DRIP purchase, aren't I setting myself up to be taxed twice on those dividends?
I just saw that in the new 8949, there is an option to combine several purchases and say "various" in column (c) date acquired. Is there a reasonable way to figure an overall cost basis (or two - long and short term) to go with such an entry?
Thanks for any advice you can provide.
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