• malloc@lemmy.world
    link
    fedilink
    English
    arrow-up
    25
    ·
    1 year ago

    Very good news. Tired of giving money to the tax prep vampires. But initial roll out is for simple tax situations (W-2 and deducting student loan interest).

    Why can’t this program also apply to selling of stocks/options as well? This information is already furnished to the IRS

    • SaltySalamander@kbin.social
      link
      fedilink
      arrow-up
      4
      arrow-down
      4
      ·
      1 year ago

      This information is already furnished to the IRS

      The fact that you sold it is already furnished to the IRS, yes. But not what your cost basis was, therefore not what you actually owe. You have to either calculate that yourself or have someone who knows what they’re doing do it for you.