Tax Tip: Document Your Special Tax Situations
By Robert Flach
NEW YORK (MainStreet) -- There's a lot more to tax filing than totaling your wages and taxes paid, so if any of the following situations apply, make sure you provide your tax preparer with the necessary documentation.
You sold shares of stock or a mutual fund. Make sure you know the original cost and date of purchase of the shares that you sold. The information may be on your year-end statement you get from your broker. If you bought shares via dividend reinvestment, you'll need to know the amount of dividends that were reinvested each year. If you originally inherited the shares that you sold last year, know the number of shares inherited and the date of death of the person from whom they were inherited.
|Make sure you have all the required information for your deductible financial situations.|
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