What information does my accountant need for stock sales?

Question

I need to get info to my accountant about my stock sales this past year for personal income tax purposes.  I keep a spreadsheet of the stock, date purchased & # of shares, date sold & # of shares, price of stock at time of purchase, and price of stock at time of sale.  I've also calculated cost basis.  But my accountant doesn't need all these numbers do they?  What information should I give them?

Anonymous · Accepted Answer

Your preparer will charge dearly if he has to do the keypunching.

Look at the IRS form 1040 schedule D-1 and build and excel spreadsheet with the same data.
Take that on disk and paper to the preparer.

wg0z · Answer

as usual, tax lady is dead on. per-share prices are irrelevant for tax purposes, altho you can track that data if you wish. note that schedule d or d-1 does not ask for it.
net sale proceeds and cost basis are really all that matter. on a sell, net sale proceeds is NOT (num shares * share price) if you are paying commissions.

Ryan M · Answer

Of course he will need all of that information.  Also, you will need to provide him with your year-end statement and a print-out from your BROKER with your realized gains and losses for 2009.

tro · Answer

oh yes they do
you are a client to cherish, would that everyone who dabbles in stocks were as meticulous as you, please call me, would love to have you as a client

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What information does my accountant need for stock sales?

4 Answers