Hello, I've been investing into this same stock a little over a year or two now. My first purchase of stock goes back since over a year ago, while my last purchase goes to.. right now.. Let's say the stock shoots up crazy style, and I pull everything out the very next day. Would this be considered a short term or long term investment?
Your stock investments SELL transactions are covered transactions now.
The broker will tell you and the IRS how much you held for more than one year.
and how much you held for one year or less.
Use the TurboTax "enter a summary" option to put your numbers on Schedule D Line 1a or Line 8a.
Category Box A or Box D sales without adjustments do not require Form 8949.