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TaxRobin, Tax Preparer
Category: Capital Gains and Losses
Satisfied Customers: 13124
Experience:  15+ years in Tax preparartion as well as Instructor for tax law, theory, and application
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Have comm stk bought several times 28 yrs ago. Many splits

Customer Question

Have comm stk bought several times 28 yrs ago. Many splits to current position. How to figure cap gains to current position
Submitted: 6 months ago.
Category: Capital Gains and Losses
Expert:  TaxRobin replied 6 months ago.


Your splits did not change your cost or basis for the whole it did change your per stock basis.

If you sell them all you can still use your original cost (plus any reinvested dividends) and the difference in that and the sale price is gain or loss.

If you are only selling some of the stock the you have to go back to the beginning and adjust the stock per each split. Then you record first in first out as the stock you sell and use those up first.

Your job is easier if all the stock is sold at once.

Expert:  TaxRobin replied 6 months ago.

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