Say over 20 years ago, you bought X Shares of Stock.

And every couple of years you sell 100 shares.

So do you each year put down that original price you paid, which I did a couple of years already.

....yes....for tax purposes, you have to do that so assuming you bought all the share at one time at one price......you have to keep track of sale prices......should be easy if the purchase price is all the same.....

.....you have to keep track until the last share is sold.....

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I reject your reality and substitute my own!



Edited 1 time(s). Last edit at 01/20/2024 11:57AM by NewtonMP2100.

Above info is correct. It's more complicated if the stock pays a dividend and your reinvest the dividend. Thankfully all cost basis is tracked by the brokerage for all shares purchased in the past 15 years or so.

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Forrest
Above info is correct. It's more complicated if the stock pays a dividend and your reinvest the dividend. Thankfully all cost basis is tracked by the brokerage for all shares purchased in the past 15 years or so.

Yes, indeed. I have a few shares purchased LONG ago (three moves, actually). Found the cost basis in the latest move - now I have to remember where I put the receipt in the latest boxes...!

Wouldn't it be easier to look up your tax return the last time you sold shares?

Bought 100 shares and I believe it split three ways and then splits seven ways so when I now have 700 or 800 shares if I sell 100 am I selling the original 100 and basis is
Add at the price I paid for the 100 and each time?

You should have 2100 shares and their cost basis would be the original price per share divided by 21.

$17.50/21 = .83

??

So wouldn't that be the price currently of what I paid for each of the 2100 shares?

So each share currently was bought for .83 x 2100 = approx $1750 original purchase price.

And cost basis for these 100 shares would be .83 x 100 = $83



Edited 1 time(s). Last edit at 01/21/2024 09:19AM by Microman.

That’s right. But there are so many of them at $0.83, they add up. If you have bought additional shares since the original purchase or reinvested dividends, the calculations get real messy and are best left to brokers or tax providers.

....most companies are supposed to send cost basis forms during tax time but only the major ones do....if you have a DRIP, you have to calculate yourself......

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I reject your reality and substitute my own!

Link for cost basis reporting to the IRS https://www.ici.org/node/837061#:~:text=In%202008%2C%20Congress%20enacted%20mandatory,new%20sections%206045A%20and%206045B.