Dec
23
Phil P asked:
When you file your Income Tax return you list date of purchase and cost of the stock purchase. Other than your honest response how does the IRS know if the amount is correct. Price and date can be compared but with multiple purchases you can list various as the date eliminating that direct comparison. Since the IRS is not known for a high level of trust I have often wondered how they check.
Create a video blog…instantly.
When you file your Income Tax return you list date of purchase and cost of the stock purchase. Other than your honest response how does the IRS know if the amount is correct. Price and date can be compared but with multiple purchases you can list various as the date eliminating that direct comparison. Since the IRS is not known for a high level of trust I have often wondered how they check.
Create a video blog…instantly.