In article <C3CE289E.D3E3F%dukefs[at]one.net> ,
Frank S. Duke, Jr. <dukefs[at]one.net> wrote:

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"VAR-L"

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"VAR-S"

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Seth

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On Feb 5, 10:33*am, Wawapluck <guitarslin...[at]gmail.com> wrote:

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Just make a second transaction.

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Yes, as well as re-invested capital gains. It's painful when you have
a mutual fund that pays dividends monthly, but I made a spreadsheet
for this -- every month is a row in the spreadsheet, and you enter the
date, amount re-invested, number of shares purchased. The spreadsheet
tells you the short and long cost basis based on today's date. I
think TurboTax has a tool similar to my spreadsheet.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

in article
cb59b3f1-726c-4989-8da8-90f9ec118b92...oglegroups.com, Wawapluck
at guitarslinger[at]gmail.com wrote on 2/5/08 1:33 PM:

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100 shares purchased 3/1/2006 for $1000
1 share purchased 6/1/2006 for $9 from reinvested div
1 share purchase 10/1/2006 for $5 from reinvested div
100 shares purchased 4/1/2007 for $1500
1 share purchase 6/1/2007 for $ from reinvested div
203 shares sole 8/1/2007 for $2436 or $12 a share

On 8/1/07 you sold 101 shares (your 1st 2 buys) long term for $1212 with a
cost of $1009. Use any date you want over a year old as the purchase date.

Your second sale was 102 shares sold short term for $1224. Use any purchase
date less than 1 year.

You can also show each individual lot and make 5 schedule D entries.

All freely provided advice guarantee correct or double your money back

Frank S. Duke, Jr. CPA
Cincinnati, OH USA

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Good day! I'm new to filing taxes, so I have a few questions. I'm
using Turbo Tax Deluxe to guide me through the tax filing process.

I purchased some shares for a stock in 2006. I purchased some
additional shares sometime in 2007. I decided to sell all my shares
sometime in 2007. In this situation, the 2006 shares are long-term,
while the 2007 are short-term. This is what confuses me. Turbo Tax is
telling me to separate my sale into two, so I can take into account
short-term and long-term gains & losses.

How do I do this?

Also, another question, if I re-invested the dividends for the stock,
do I count those dividends as part of my cost basis?

Thanks!

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >