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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: Saul Seinberg who wrote (10044)	1/17/2000 2:55:00 PM
From: OldAIMGuy	Read Replies (1) \| Respond to of 18928

Hi Saul, A timely question. I do my tax accounting on a FIFO basis for individual stocks and Ave. Cost basis for mutual funds. To document the FIFO gains, I keep all my confirmation tickets. I take the oldest unsold shares indicated and subtract the oldest shares sold from that ticket. When that ticket is exhausted, I move on the next oldest, etc. There are some instances where I sold 200 shares that might have 100 shares sold on an old ticket and 100 on the next newest. I do all this longhand and keep the results filed. I also then prepare a "Schedule D" and print it out of Lotus. It has "Security Name, Date Bot, Date Sold, Cost, Proceeds, Gain/Loss, Total Gain/Loss" as column heads. The "Total Gain/Loss is summarized at the end of the page and picks up on the following page. It usually takes me 2 or 3 pages to get them all for one year. Mutual funds are easier since they will do the Ave. Cost. calc for you. I still fill in the same stuff on the Schedule D, but with "various" for the Bot date. Hope this is what you meant. Best regards, Tom