ACK! Nobody warned me about the taxes associated with DRIPs. Luckily its not April 14th. Can anyone recomend a good basic primer for how to deal with this? I'm not the best record keeper in the world and a chronic procrastinator (everything is set up direct deposit or due on the 1st - lucky I'm debt phobic or I could have serious problems) Will the holder of my account send me some kind of statement (like my mutual fund) or is it up to me to do the calculations? Do I only have to pay Capital Gains is I sell? I have never used Quicken or any other accounting program.
Do I only have to pay Capital Gains is I sell? I have never used Quicken or any other accounting program. You only pay capital gains on stock you sell - the dividends are a different story. However, they have to be above a certain amount to be taxable.George
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |