Did you buy, sell, or trade stocks this year? Planning on doing it in Future? Did you remembers that you need to record each and every sale on your income tax return? Many investors expect that their end of year statement from their broker will give them everything they need to file their taxes - this is not necessarily true. Your year end statement will give you the sales price, but will not necessarily provide you with all the other key information necessary to file your return. As an investor, it is your responsibility to know the following for each and every security sold to properly reflect the transaction on your tax return:
Name of the security
Your cost basis (ie: what you paid for it, adjusted by splits, etc.)
What you sold it for
Date of sale
Gain or Loss (sales price - adjusted cost basis)
If you were a successful investor in this yaer, but didn't track this information well, April 15th may present a headache this year. But luckily, this headache is avoidable in future years if you track your purchases and sales as you make them - then all you need to do is print out the spreadsheet, and voila, taxes done.