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re: I'm getting bored with day trading. So, I'm going to create...
Posted on 2/24/12 at 8:39 am to Chad504boy
Posted on 2/24/12 at 8:39 am to Chad504boy
quote:From what I can tell Schwab does a good job of keeping up with the cost basis including reinvested dividends.
What do yall do with dividends?
Reinvest and curse them come tax time.
I used to keep my cost basis for including taxable dividends on an Excel spreadsheet but when I saw that my spreadsheet cost basis and the Schwab cost basis were always within a couple of pennies (literally) of each other, I stopped keeping the spreadsheet and I just rely on Schwab.
Anyway with the new 2011 IRS reporting for cost basis, Schwab's numbers is what counts. I'm sure not going to report a different cost basis over a few cents.
2
Posted on 2/24/12 at 11:26 am to LSURussian
If the divis are in a roth ira you don't have to pay cap gains right?
Posted on 2/24/12 at 11:29 am to LSURussian
quote:
From what I can tell Schwab does a good job of keeping up with the cost basis including reinvested dividends.
I used to keep my cost basis for including taxable dividends on an Excel spreadsheet but when I saw that my spreadsheet cost basis and the Schwab cost basis were always within a couple of pennies (literally) of each other, I stopped keeping the spreadsheet and I just rely on Schwab.
Anyway with the new 2011 IRS reporting for cost basis, Schwab's numbers is what counts. I'm sure not going to report a different cost basis over a few cents.
Didn't mean the struggle to report, just the idea of paying taxes on monies not "taken"... that's all.
I used turbo tax and it pulled everything from my vanguard. I had to enter a few bought dates and that was it really.
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