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DRIP Question
Old 07-16-2004, 10:34 AM   #1
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DRIP Question

I sold all my DRIP stocks last year to pay cash for my house. Now that I have a clear plan to retire early, I want to start investing in some stocks again.

Am I correct in remembering that the record keeping involved with DRIPS is keeping track of all purchases and all reimvested amounts that have been taxed? Am I missing anything else?

THanks
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Re: DRIP Question
Old 07-16-2004, 11:41 AM   #2
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Re: DRIP Question

Oh yea, Oh yea, Oh yea!

Adjusted tax basis in ALL it's nefareous forms. 37 stocks - two drawer file cabinet of folders. The really pesky ones are the spin offs that get away from you. I have 3 shares of UBS ag (no DRIP) via the old Paine Webber, 11 shares of Anadarko Petroleum via spin off AND merger from Union Pacific and a few others. The easy part is the 1099 - div each year. Make sure you readjust your tax basis/share to reflect reinvested divs. The merger for shares plus some cash - partial spin -offs, and the unplanned all cash buyout, or OR the surviving company doesn't have a DRIP plan leaving you an odd lot to sell. Since 1989, my accountant's hair has gotten steadily grayer - she always puts on a brave face and says no problem - what a trooper.
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Re: DRIP Question
Old 07-16-2004, 12:22 PM   #3
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Re: DRIP Question

I share unclemick's pain with small quantities of
spin-off stocks that would cost more to sell than
they are worth. Couldn't even donate them to my
church.

Cheers,

Charlie
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Re: DRIP Question
Old 07-16-2004, 12:30 PM   #4
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Re: DRIP Question

Thanks for your replies. Per share tax basis is something I didn't do last time. I think last time I just keep track of the total cost basis, and vowed to sell all or nothing.
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