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Capital Gains Tax Question
Posted on 12/10/12 at 9:24 pm
Posted on 12/10/12 at 9:24 pm
I've been buying and selling investments for years but I've always wondered how accurate you have to be on your tax returns if you've reinvested stock dividends for years and then sold your shares? I've done the legwork of calculating the specific share cost for each reinvested lot sold because I had moved accounts to a few different companies.
Obviously it's very difficult to get the number to be 100% accurate but I've always been within pennies. Is there a certain threshold where the IRS begins to question accuracy?
Obviously it's very difficult to get the number to be 100% accurate but I've always been within pennies. Is there a certain threshold where the IRS begins to question accuracy?
2
Posted on 12/10/12 at 9:30 pm to TakingStock
doesnt your brokerage house give you a 1099?
Posted on 12/10/12 at 9:34 pm to bryso
They do, but I've had multiple account transfers during a 10+ year period and much of that time was before it was common to track everything on the internet.
Posted on 12/11/12 at 8:29 am to TakingStock
Pennies? You're fine. You round off to the dollar on the return anyway.
Posted on 12/11/12 at 2:24 pm to Spock
Yeah you're a lot closer than many. You should be fine
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