Msg. 43360 of 47202 (This msg. is a reply to
43331 by
nacl01)
Jump:
Nacl01 > I would think this would work best in a retirement account or you might have a tax nightmare when you sell.
True.
Meticulous record keeping is a must.
Or, just never sell and ones heirs get a new
cost basis when one passes on.
I have manila envelopes - one for each company and
I keep enough paperwork that I can show every purchase.
When I sell the purchase date becomes 'miscellaneous'.
And, purchases made in the last year become short term
thingies . . . Which is another reason I don't like
dividend re-investing - I wind up with four short term
thingies I have to tally up. Versus holding for over
a year after my last purchase then the capital gain
becomes long term.
Also, I like the idea of having some tax deferred
stuff (my 401K at work) and some tax paid stuff. Plus
some federal tax free income from a municipal bond fund.
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