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Trade futures. I believe all you have to do is list the total P and L
for each firm you had an account with. three commodity accounts, three
lines on your form.
NEP
GREHERT@xxxxxxx wrote:
>
> 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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