DRIPs -- Dividend reinvestment plans Message Board

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Non-Tech : DRIPs -- Dividend reinvestment plans

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To: Rick Kunz who wrote ()	5/3/1997 11:02:00 AM
From: Michael W. Brom	of 263

DRIP recordkeeping ... It isn't THAT bad if you are even just SOMEWHAT organized. Here's how: I keep a simple notebook with each stock listed on separate sheets of paper. The very DAY I receive reinvested dividend information, I enter it in my notebook along with any fees paid by the companies for the transaction. When tax time comes, I just get out my notebook, add up my dividends and fees in a matter of five minutes. Then, I also can calculate my new TAX BASIS for the upcoming year. I also keep a written page of my cash payments as well. It's really not that difficult if you keep things up-to-date EVERY time you reinvest dividends. Plus, it saves LOTS of heartache in the future. Michael

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