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Retirement tax questions
First, you can select 'something other than a date' and use a common and regular date of 'Various'. You can always use the 'V' for various in the date acquired, however you must know the holding period (one year or less = short term/more than one year = long term).
Sales that can be combined in separate categories when using Various as the purchase date:
- Include all short term sales sold at a loss
- Include all long term sales sold at a loss
- Include all short term sales sold at a gain
- Include all long term sales sold at a gain
Use the gross amount shown on the 1099-K, then add the fees (seller fees, buyer fees and taxes) as part of your cost basis. Do not check the box 'I paid fees not included in what I just reported.' This action will cancel the fees and your result will be only the actual net gain or loss for each category.
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‎February 21, 2023
9:42 AM