Turbotax requires you to enter the date of acquisition and
sale for each transaction, so there is no need for him to
divide the reinvestments into ST and LT. TurboTax will do
it for him if he is using the FIFO method. (If he is using
average cost, different story.)

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confused man wrote:

- quote -

Just remember to divide up the reinvested dividends
correctly: Those reinvested more than and less than a year
before the sale (into long term and short term categories).

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confused man" <bfbj[at]iup.edu> wrote:

- quote -

Dear Confused - tax preparation programs are great for doing
the math and filling out forms but they do not replace the
need to understand tax law at some level. If you do not
understand how taxes should be calculated for any of your
income and/or deductions I would recommend you see a
professional.

--
Vic Roberts
Replace xxx with vdr in e-mail address.

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"confused man" <bfbj[at]iup.edu> wrote:

- quote -

I am not an accountant. Personally I have been using Turbo
Tax (and the last couple of years, Tax Cut) for filing my
taxes. I have capital gains and loses, dividends, and
salary.

The softwares work for me.

- quote -


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"confused man" <bfbj[at]iup.edu> wrote:

- quote -

I'm not familiar with TT, but if you enter information
correctly, and don't do any overrides, it will probably work
for you. "Correctly" means taking account of any wash sales
that may have happened.

--
Tom Healy, CPA
Boulder, CO
Web: http://www.tomhealycpa.com

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"confused man" <bfbj[at]iup.edu> wrote:

- quote -

TurboTax can handle all of this, and since you've had sense
enough to keep good records, you should have no need for
professional help.

--
Phil Marti
Clarksburg, MD

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I have a good amount of capital gains that I need to take
care of this tax year as well as DRIPs with sharebuilder.com
etc. I have kept detailed records of my dividend
distributions, as well as buy/sell dates

In addition I have income from a Pension, in which I
recieved a Form 1099-R

I'm curious knowing this information... will Turbo Tax work
for me correctly, or do I need to shell out hundreds of
dollars to go see an accountant?

Thank you all so very much,
Confused Man

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