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Q: investments--reporting losses and gains ( No Answer,   2 Comments )
Question  
Subject: investments--reporting losses and gains
Category: Business and Money > Accounting
Asked by: daveguya-ga
List Price: $10.00
Posted: 28 Aug 2004 05:29 PDT
Expires: 27 Sep 2004 05:29 PDT
Question ID: 393751
I have bought and sold stocks and am clueless about how to report
losses or gains to my accountant at tax time. This year I sold two
that I lost a great deal of money on.  There were times when I bought
and sold shares of each of these stocks.  Is there a software product
that will enable me to figure out what I lost or gained on stocks by
entering the transactions? What makes this complicated is that  I sold
some shares in years past then bought some more.  When tax time came I
didn't report losses because I didn't know how.  How do I begin to
take care of these gains and losses, or how do I straighten out this
mess?
Answer  
There is no answer at this time.

Comments  
Subject: Re: investments--reporting losses and gains
From: anonoboy-ga on 28 Aug 2004 07:07 PDT
 
Your accountant should walk you through this.  Your answers to his/her
questions will lead to more questions and answers and you'll get
through it.  Be open with your accountant about your anxiety regarding
this process. If you do not get the kind of  service you need, get a
new accountant.
Subject: Re: investments--reporting losses and gains
From: taxmalone-ga on 23 Sep 2004 09:08 PDT
 
You will get a 1099 from the broker.  All you need to do is take that
to your accountant.  It will probably come to you in March of 2005.

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