Sold a DRIP stock and not sure how to put long term and short term cost basis on the tax form?

[nono4taxes]

I sold some Deere and Company in which I had reinvested dividends.  I received 9661.26 from the sale.

My long term cost basis was 1063.80 and my short term was 75.40 (from dividends reinvested for the last year).

Do I divide the proceeds from the sale between ST and LT or how do I enter this on my tax form?  Thanks for the 

help!!!

[DavidD66]

You have to report long term and short term transactions separately.  I recommend you report the summary totals rather than enter each transactions.  To do so,

• Click on Search
• In the Search Window type 1099-B
• Click on Jump to 1099-B
• Click Add more sales (if the account you were trying to download is showing, delete it first)
• Click on the box with Stocks, Bonds, Mutual Funds  and click on Enter
• On the Let's import your tax info screen, click on I'll type it myself at the bottom right of the page
• Enter your Broker, and click on Continue
• On the page with "Tell us about your 1099-B sales for this brokerage account" answer the question about employee stock & the number of sales, etc.
• click the button "Enter sales section totals" and click on Continue
• Locate your sales section totals on your 1099-B
• Enter your Investment Sales Section Totals and repeat till you have entered for each category.

After entering all your sales section totals,  Look for "Now we'll help you upload your 1099-B since the IRS requires a copy" and follow the instructions,  or you can mail a paper copy of your 1099-B to the IRS.  If you want to mail, click on "How do I mail my statement".

Take a moment to double-check that your statements are complete. For each sale listed, there should be:

•  - A Description
•  - Date Acquired
•  - Date Sold
•  - Sales Price
•  - Cost Basis
•  - Gain or loss for each sale
•  - A based on how the sale was reported to you and the IRS

 In some uncommon cases, there will be an adjustment code and adjustment amount.

 NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.

 Here's how to mail your statements:

 If you are e-filing your tax return, then mail your statements along with Form 8453 to:

Internal Revenue Service

Attn: Shipping and Receiving, 0254

Receipt and Control Branch

Austin, TX 73344-0254

If you are not e-filing, then mail your statements with your entire tax return to your local IRS office.

[Mike9241 · Accepted solution]

i think you're missing something.   the cost basis of your original purchase + the tax basis of all reinvested dividends for current and all prior years

proceeds/ total shares sold = sales price per share

number of shares held long-term times sales price per share = long-term proceeds less tax basis of shares = long-term gain/loss

total sales price less portion allocated to long-term sales = short-term sales proceeds less their tax basis = story-term gain/loss

[nono4taxes]

Thank you....the formula you sent was what I needed.  I think I was confusing myself because we only sold 13% of our holdings so dealing with that in the first place just had my mind boggled ....just couldn't see it clearly.  Greatly appreciate your help!