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Get your taxes done using TurboTax
1. Enter 3 transactions. Each sale date must be a separate transaction. Various is only allowed for purchase date.
2. The IRS will be looking for 3 sale dates. You need to identify the stock sold for each transaction. You must have bought the stock at varying times since you don't have one basis for all.
Example:
1/1/20 bought 100 share ABC for $10
6/1/20 bought 100 shares ABC for $14
Several options for selling stock, I prefer FIFO, First in is first out.
Sale 4/4/22 75 shares so basis would come from the first stock purchased. The basis would be 75 x $10 purchase price = $750.
Sale 5/6/22 for 75 shares. Keep taking from the first purchase, 25 shares at $10 = $250 plus 50 shares from the second purchase at $14/share =$700. Add the two parts together, $950 basis.
Sale 8/10/22 Sale of remaining shares. 50 shares at $14 = $700 basis.
Now, you can find all of your purchases and determine your basis.
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