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Author: lemmingwatcher Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121481  
Subject: Investment TAX ????? Date: 1/4/2002 4:12 PM
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I have always recorded my entries on Schedule D in detail for stocks I have sold. Is it acceptable to enter a summarized entry and show the dates as "various"..
Example...
Say I have the following transactions for a stock
1/1 buy 100 @ 10.00
1/15 buy 100 @ 15.00
2/1 sell 50 @ 20
2/5 sell 100 @ 30

Should I record each sale on the Sched. D or can I summarize the sales into one entry?

Appreciate any help
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Author: Crosenfield Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56763 of 121481
Subject: Re: Investment TAX ????? Date: 1/4/2002 4:18 PM
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"various" is fine. You just need to sort out long term and short term. In Turbotax there is a column at the far right for and "L" or "S" to designate a transaction to go into the long or short-term fields.
Best wishes, Chris

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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: 56773 of 121481
Subject: Re: Investment TAX ????? Date: 1/4/2002 6:04 PM
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Should I record each sale on the Sched. D or can I summarize the sales into one entry?

"various" is fine.


I think this is wrong. If you sell 100 shares of stock purchased in two separate 50-share chunks on two different days, you can certainly say "various" in the date acquired column, and add the purchase costs together to get an aggregate basis. But you have to keep the sales separate, one Sched D entry for each sale. That is, you can't aggregate sales and put "various" in the sale column. After all, the IRS is notified that you received X dollars from a sale of ABC on a certain date, and they want to be able to find that amount in the "sales price" column of Sched D.

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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56784 of 121481
Subject: Re: Investment TAX ????? Date: 1/4/2002 10:56 PM
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Should I record each sale on the Sched. D or can I summarize the sales into one entry?

I have a rare disagreement with Chris. "Various" is fine for the purchase date, but you need to list every sale separately. See the instructions for Schedule D.

Phil Marti
VITA Volunteer

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Author: lemmingwatcher Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56795 of 121481
Subject: Re: Investment TAX ????? Date: 1/5/2002 10:01 AM
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Thanks all,
I think I worded my example poorly, but you were able to answer it correctly.
1. Each sell should be recorded seperately!
2. If a "sell" contains stocks that were bought at different times for different amounts you can record the "sell" as one line on schedule D and use various as the date acquired.

Thanks....

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