Money Forum World

Bryant Johns · Joined: 08 Nov 2007 Posts: 2167

How do I report many stocks 200+ that I bought and sold in 2006.?
I am doing turbo tax now and have ran into a problem. I cant figure out how to report many stocks over 200 . Any ideas could be a great help. I did incur a loss. :

Corrine Lane · Joined: 08 Nov 2007 Posts: 2056

The way we do it at the CPA firm that I work at is:

Type in See declaration A in the description/name of the stock that you sold.

Enter the TOTAL amount of proceeds and base.

Put in VAR different as the date assumed and sold.

Somehow you'll have to identify which are lasting and short term sales because they're taxed differently. typically we do two different statements, A and B, to show this detail. Youll then attach these statements to your Schedule D.

Now, as for doing it in Turbo Tax. Im not sure if youre e filing or not, but its kind of a ache in the to e file if you have attachments because the IRS wants to see the hard copy also. Youll have to fill out the 8453 and send it in with your attachment Statements A and B on it. Also youll have to see if Turbo Tax will let you attach a .pdf file to your return when you e file. If they dont let this then youll most likely have to print it off and mail it in like they did in the 90s ha. . be sure youre name and SSN are on the statements also in case they get misplaced.

Omar · Joined: 08 Nov 2007 Posts: 2123

Schedule D. I haven't used Turbo Tax, so I don't know the specifics.

Big Inc. · Joined: 08 Nov 2007 Posts: 2120

I use a spread sheet and attach it to schedule D. really two spread sheets. One for lasting and one for short term. The only thing that matters is the agregate totals as far as taxes are worried. Dont forget the total dollars of sales on your spread sheets.