Taxpayers scurrying to get their records together for tax filing purposes would do well to consider these tips from the National Association of Enrolled Agents, whose members are the only tax practitioners licensed by the federal government to prepare taxes and represent taxpayers before the Internal Revenue Service.

When compiling records for their returns, taxpayers who own stocks should bear in mind that:

• In 1998, there were only two "holding periods" for stocks: short-term (stocks held one year or less) and long-term (stocks held more than one year.) "Mid-term gains" were eliminated.
• A holding period begins on the day after your stock purchase is executed and on the day your tax sale is executed -- even if you don't receive payment until several days after the sale.
• To determine your gains on a sale of stock, you must know the "basis" of the stock. So, save all your "buy" and "sell" slips. When you sell a stock, staple the "buy" and "sell" slips together -- and put them with your current tax records -- to help determine its basis.
• If your stock has "split," be sure to keep any information you received about the transaction.
• Keep annual statements for stocks that have a "DRIP" (dividend reinvestment plan) showing the amount of the dividend, since these dividends can increase a stock's basis. When sold, put the sell slips with the annual statement -- even if not all shares are sold.
• Keep all "option" information ("calls" and "puts") ... even if the options expire without being exercised. Attach all option information to sell slips.

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