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!!!
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
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,
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:
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.
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