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I just did my taxes last night. Every single source number there was already on a form 1099-something, w2, or other form that's been submitted to the irs. If t

I just did my taxes last night. Every single source number there was already on a form 1099-something, w2, or other form that's been submitted to the irs. If they can't do it properly, I can't do it properly. (because IANATL)

muzz 14y ago
For simple purchases of common stock, the purchase price is NOT reported to the IRS. Although, many brokers may provide it for your information.
- wiredfool 14y ago
  I believe (meaning, I've got a form with that data) that that has changed as of this year, at least, they are now reporting the cost basis for stocks that have been sold. I don't remember seeing this in previous years.
  - khuey 14y ago
    Yep, cost basis is now being tracked and reported.
khuey 14y ago
The part that they can't do correctly is mostly deduction-side.
- wiredfool 14y ago
  I bet that they can get it correct for 90% of the taxpayers. They certainly could do it for me, using sensible defaults. (e.g. mortgage interest is reported, real estate taxes are reported, local sales tax is a calculation in most cases). Where they're not going to get it right is if you've got a Schedule C, since none of that is reported elsewhere.