Stock Purchase Tax Question
how do I record purchase of stock into another company? and,what is the entry into QuickBooks, and what are the tax implications for me?
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09/04/11 11:56am PDT
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IRMN
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09/04/11 1:30pm PDT
Code the payment to an asset account called investments. There are no tax implications related to the purchase. Any tax implications will arise down the road based on any dividends paid or future sale of the stock.
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11/15/11 5:03pm PST
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There are tax implications relative to the purchase of the stock in that the purchase becomes a part of the basis of the stock for the subsequent sale and calculations of gain or loss
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