The stocks value will be reported in the balance sheet either at cost or at market value. You buy and sell the stock which will trigger capital gains. For capital gains reporting you have to track the sale prices and purchase purchase price of the stocks on an excel sheet. We can certainly provide you with a template to do so. You will also receive dividends from the invested stocks.
All type of income must be tracked in your books as each type of income i.e. dividends, interest and capital gains are taxed at different rates and require filling of different schedules on the tax return.
- For dividends fill Schedule 03
- For capital gains fill schedule 06
- For interest income fill schedule 07
Doing bookkeeping and taxes for stock investment is not easy. If you need help with it please call us to setup an appointment.