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| In microsoft.public.money, Charles wrote: - quote - > Is it possible to store both the original cost basis for
You can store and should store FMV in the Memo of the Buy. Automatic> a stock (purchase price) while also storing the adjusted > cost basis required for determining capital gains? AMT transfer to tax forms is not produced by Money. - quote - > For
See http://www.fairmark.com/execcomp/isosale.htm> ISO options that have been exercised but not sold, AMT > tax requires that I pay tax on the stock as if I had > actually sold it. That effectively adjusts the cost > basis for tax purposes. Now that I'm actually selling it > several years later, the only way I can taxable gains is > to update the orginal purchase price. Am I SOL? From http://www.irs.gov/pub/irs-pdf/i6251.pdf, it looks like the AMT income you claimed will go as a negative on Line 16 after you go through the line 16 worksheet, but I could have mis-read in my quick look. The example on page 3 of the 6251 instructions could be more helpful than it is. See http://www.google.com/search?hl=en&l...t+sell+line.16 for some more reading on the subject. |
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| Is it possible to store both the original cost basis for a stock (purchase price) while also storing the adjusted cost basis required for determining capital gains? For ISO options that have been exercised but not sold, AMT tax requires that I pay tax on the stock as if I had actually sold it. That effectively adjusts the cost basis for tax purposes. Now that I'm actually selling it several years later, the only way I can taxable gains is to update the orginal purchase price. Am I SOL? Thanks |
| Tags |
| adjusting, basis, cost, iso, options, stock |
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