- quote -

Take a deep breath and look at the 1099-B. It tells you
whether it's reporting gross or net proceeds.

Phil Marti
Topeka, KS

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Many Thanks to everyone who has responded. Thank you! thank
you! thank you!!! =) =) =)

I will try your suggestions and see if I can put this
together. I'm a bit skeptical because I still have a lot of
things to sort out like whether or not to put $465.70 gross
proceeds or to put the net proceeds of $435.32 after fees.
I'm trying to avoid a trip down to H&R Block but if I have
to go....

Steven

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Steven wrote:

- quote -

You have a qualifying disposition of shares you purchased
under an employer ESPP and the sale of shares purchased via
dividend reinvestment. You only had one sales transaction
on Oct. 20 when you sold the whole lot for $465.70 and were
charged a fee of $30.38. You netted $435.32. As you
sustained a loss on the ESPP shares you purchased on 4/20/01
you don't need to concern yourself with any computation of
ordinary income. In addition, as the amount in question is
so small, I wouldn't concern myself with trying to isolate
the short term transactions from the long term transactions.
Nor would I even bother to try to compute the cost basis of
the fractional shares which were based on very small
dividends. Treat the whole disposition as one sale of long
term assets at a loss. You can enter "various" as the
purchase date on the 1040 Schedule D Part II. Your cost is
highlighted in the section called Account Summary that
extends over two pages. Unfortunately, instead of showing
you how much you actually paid for each purchase or dividend
reinvestment, the listing reflects the price of one share
and the fractional amounts purchased. You will have to
perform some arithmetic to obtain your total cost basis. I
would just take the original purchase on 4/20/01 and compute
how much you paid ($39.2785 x 13.6207 shares). Then just
assume about 65 cents for 10 other transactions ($6.50).
This will give you your total cost basis.

--
Alan
http://taxtopics.net

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Steven wrote:

- quote -

Hopefully the stock didn't sell for a million dollars a
share! therefore you can simply use a zero as basis, and let
it slide.

- quote -

Thanks, but only it you have railroad or Scottish themes.

"Happiness is riding the Royal Scotsman up to Edinburgh toun."

Cheer$,
Harlan Lunsford, EA n LA

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Steven wrote:

- quote -

If you sell shares on one date that you bought piecemeal
over a period of time, you can put "various" as the purchase
date and use one line in schedule D. For the cost, add up
the individual dollar costs, teensy and otherwise.

Actually, there'll be two lines: one for long-term and one
for short-term. Divide the list by holding time, with one
year as the dividing point.

If it's a stock purchase plan, there are probably some
additional complexities; maybe somebody else can cover that.

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pokemonn2[at]hotmail.com (Steven) wrote:

- quote -

Since there's just one sale, it's not too hard. All you
have to do is separate the long-term and short-term
portions. You can enter them each as a single item on
Schedule D, with "various" as the purchase date. For each
one, total up the costs, and compute the proceeds as the
appropriate fraction of the net sale.

--
Barry Margolin, barmar[at]alum.mit.edu
Arlington, MA

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http://home.covad.net/~stevenq/tax.htm

The above link is a copy of my stock transactions from my
1099 B. If you look at my Annual Sales Details there's about
a dozen tiny little transactions - shares sold not in terms
of whole shares but in terms of .0178190. Am I actually
supposed to calculate the monies I made from the sale of
these teensy tiny little numbers?!?!?

Is there some quick and easy way to do this? Muchos
appreciatos to anyone that can help. And if you are kind
enough to come up with advice I can actually use, I'd be
willing to give you some pictures from my prized Desktop
Wallpaper collection.

Steven Q

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