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Non-Tech : Invest / LTD
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To: Alski who wrote (9071)6/19/1999 8:56:00 AM
From: SJS   of 14427
 
Now Alski, that WAS helpful. I'm serious. It was.

But do you know how crazy it is to adjust the basis of 1 transaction from another or multiple others, especially for LT gains/loss base transactions?

You'd soon forget about the single or MULTIPLE calls, straddles and hedges (which are ALL ST transactions) you've written against the stock over the years, and your original transaction receipts would be of NO help in understand 10 years later why your basis was so low.........!!!

No investment tracking software does this to my knowledge (certainly not Quicken), so I have records of buys and sells with original receipts that will matchup perfectly and theoretically come to the EXACT same mathematical results as the IRS way. I guess that's all that matters: One pays the correct tax.

Or does it? I'll talk to my tax guy. How do other folks here do this?

Steve
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