How to Find Detailed Stock Information for Tax Harvesting at TD Ameritrade
When it comes to tax harvesting, having accurate and detailed information about your stock purchases is crucial. Here’s a step-by-step guide to finding the price of individual shares you purchased on TD Ameritrade, ensuring you only sell stocks at a loss to minimize your tax liability.
Accessing Your Trading Platform
Firstly, download and use TD Ameritrade's trading platform to track the price movements of your stocks. This platform provides a comprehensive view of all your transactions and their corresponding prices. You can access this platform through your account login, which gives you detailed information about your trades.
Reviewing Past Statements and Paper Confirmations
Checking your past statements from TD Ameritrade is the first step in gathering this information. These statements will show you the date of each trade, the number of shares purchased, the price, and other relevant details.
Additionally, you should keep paper confirmations for each trade. These confirmations are a legal record of the transactions and can serve as important documentation if needed.
Contacting TD Ameritrade for Assistance
If you are unable to find the necessary details within your trading platform or through your statements, contact TD Ameritrade for further assistance. TD Ameritrade has a fiduciary responsibility to provide you with the information you need. Their support team can also help you determine whether a trade represents a long-term or short-term capital gain or loss.
Accessing the Details Directly from Your Account
When you log into your TD Ameritrade account, you can easily review your trading history. Each trade will be listed along with the date, the number of shares traded, the stock symbol, and the price. This information is crucial for tax planning.
Further Tools for Tax Planning
Many online trading platforms offer additional tools to help with tax harvesting. For example, you can choose which shares to sell based on either price or time of purchase. This targeted approach allows you to manage whether the trade falls under short-term or long-term tax rules.
Finding Stock Prices Instantly
Even if you are unsure about how to find the current price of your stocks, this information is readily available online. By visiting financial websites such as Yahoo Finance or Market Watch, you can easily find the current market prices for the stocks you own. The process is straightforward: simply enter the ticker symbol of the stock (e.g., MSFT for Microsoft, GOOGL for Google) into the search box and hit enter.
For a quick reference, here are some common ticker symbols:
Microsoft: MSFT Google (B-Share): GOOGL Google (A-Share): GOOG Phillip Morris: PM ExxonMobil: XOM PepsiCo: PEPSAdditionally, you can find these symbols in newspapers such as USA Today, the Wall Street Journal, or Barron’s, where stock prices and lists of traded securities are often published.
Conclusion
Accurate stock information is essential for effective tax planning, especially during the tax harvesting season. By leveraging TD Ameritrade's tools and verifying information through your trading statements and financial websites, you can make informed decisions about your investments and minimize your tax liability.