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I need some advice from the more experienced stock traders in the group. How
do you prepare your taxes for your accountant and how do you keep track of
splits?
When I got my end of year summary of all my '98 SELLS (FOR the IRS) and all my
'98 BUYS (NOT FOR the IRS), I scanned it all into EXCEL and matched up buys
and sells where the stock quantities matched. The UNMATCHED transactions I
tried to match with my previous years "end-of-year" (12-31-97) spreadsheet.
The remaining UNMATCHED transactions should be my end-of year holdings as of
12-31-98.
The problem occurs when I see the following:
BUY 1/15/97 100 MSFT MICROSOFT CORP $(5,134.00)
BUY 12/ 1/98 50 MSFT MICROSOFT CORP $(6,476.88)
SELL 10/ 8/98 100 MSFT MICROSOFT CORP $9,050.94
SELL 10/21/98 100 MSFT MICROSOFT CORP $10,363.40
SELL 11/24/98 100 MSFT MICROSOFT CORP $12,213.34
SELL 12/30/98 100 MSFT MICROSOFT CORP $14,075.78
Now obviously SPLITS caused this discrepancy. So I guess the most efficient
thing to do is to ask my broker for a listing of all MSFT splits and then
"calculate" a correct basis for all the sells. What a Pain!!
There must be an easier way. Any advice would be greatly appreciated and very
timely. Thank you,
Best Regards,
Jerry Rehert (grehert@xxxxxxx)
Atlanta, GA
@ 08:33 pm, March 21st, 1999
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