@[email protected] to [email protected] • 2 years ago13 states will join the IRS direct income tax filing pilot in 2024 - The Vergewww.theverge.comexternal-linkmessage-square79fedilinkarrow-up1350cross-posted to: [email protected][email protected][email protected][email protected]
arrow-up1350external-link13 states will join the IRS direct income tax filing pilot in 2024 - The Vergewww.theverge.com@[email protected] to [email protected] • 2 years agomessage-square79fedilinkcross-posted to: [email protected][email protected][email protected][email protected]
minus-squareSaltySalamanderlinkfedilink4•2 years ago This information is already furnished to the IRS The fact that you sold it is already furnished to the IRS, yes. But not what your cost basis was, therefore not what you actually owe. You have to either calculate that yourself or have someone who knows what they’re doing do it for you.
minus-square@[email protected]linkfedilink5•2 years agoSome fancy trades perhaps not, but I have yet to have a line item not have this on it: (basis reported to the IRS)
minus-squareButt Piratelinkfedilink4•2 years agoThat’s generally true for very old stock. Anything that’s recent has a reported basis.
The fact that you sold it is already furnished to the IRS, yes. But not what your cost basis was, therefore not what you actually owe. You have to either calculate that yourself or have someone who knows what they’re doing do it for you.
Some fancy trades perhaps not, but I have yet to have a line item not have this on it: (basis reported to the IRS)
That’s generally true for very old stock. Anything that’s recent has a reported basis.