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Your stock broker or investment manager should be doing all this for you. Normally you receive end of year tax documents and all you do is copy some numbers fro
by socialist_coder 11y ago
Your stock broker or investment manager should be doing all this for you. Normally you receive end of year tax documents and all you do is copy some numbers from them onto your tax return. It's pretty easy but it could definitely be even more automated.
Maybe some stock brokers or weird investments don't do this?
I would hate having to do all that stuff by hand.
- tsotha 11y agoIf you've held a position for long enough it may have been purchased before brokers were required to keep track. Your broker may not have enough information to provide the cost basis. I have a couple small positions I've held for more than 20 years now. At this point it will be more trouble to deal with the taxes than they're worth, so I'll probably just hold onto them and let my heirs deal with it.