How do I do my taxes if I bought and sold stock and have an accountant?

October 31st, 2009 | by admin |

Last year, was the first year I purchased and sold stock. I got both loss and profit. I got a family accountant that does my taxes. Online broker sent me a composite 1099 statement. So do I just give that to my accountant, and he does the rest?
I use scottrade.

The accountant will need the 1099B from the broker showing the closed positions.

He will also need to know your cost basis. This means he will need copies of one of the following
- the trade confirmation of the purchase (this is preferred)
- the monthly statement showing the purchase
- any monthly statement showing the cost basis (not all brokers provide this info on the continuing statements)
- a report from your broker of the cost basis of all your closed positions (not all brokers provide this extra report)

  1. 2 Responses to “How do I do my taxes if I bought and sold stock and have an accountant?”

  2. By jeff410 on Oct 31, 2009 | Reply

    Yes, and make sure he has the date and amount of your purchases too. The 1099b only has the sales proceeds. Sometimes the broker includes your purchases too.
    References :

  3. By Ted on Oct 31, 2009 | Reply

    The accountant will need the 1099B from the broker showing the closed positions.

    He will also need to know your cost basis. This means he will need copies of one of the following
    - the trade confirmation of the purchase (this is preferred)
    - the monthly statement showing the purchase
    - any monthly statement showing the cost basis (not all brokers provide this info on the continuing statements)
    - a report from your broker of the cost basis of all your closed positions (not all brokers provide this extra report)
    References :

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