"anoop" <ghanwani[at]gmail.com> wrote:
- quote -

You may be able to enter "Various" for some of the dates.
If not, pick one of the actual dates and use it as if you'd
received all the shares one that date. As long as all the
shares are qualifying dispositions and all were held
long-term, the specific dates should have no effect on the
tax computation.

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

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A.G. Kalman wrote:
- quote -

Thanks again for the followup. Yes, I can probably do that
calculation by hand, but the problem is that I'm using
TurboTax which expects me to enter a grant date, a grant
price, a purchase date, and a purchase price for each
purchase. Does this mean that I wouldn't be able to use
TurboTax if I lumped everything as one transaction? If I
can use TurboTax even if I enter it as a single transaction,
what would I enter in the fields for the dates, and how
would TurboTax know to treat them as a qualifying
disposition.

Anoop

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anoop wrote:
- quote -

No. You only need to enter the one transaction. Just perform
the calculation yourself as to how much is ordinary income
and how much is capital gain/loss.

- quote -

--
Alan
http://taxtopics.net

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A.G. Kalman wrote:
- quote -

It was all sold as one transaction.

- quote -

I left the employer six years ago, so I didn't get a
W-2 from them this year.

- quote -

Thanks for the suggestion. I will check with them.

- quote -

This suggests that I would have to enter the purchases in
groups for which the grant date was the same. If the grant
date is equal to the purchase date, then I would pretty much
have to enter each stock transaction individually (about 50
or so), right?

- quote -

I've held the stocks more than 4 years so I assume it's a
qualifying disposition. I was under the impression that the
15% discount gets reported as income even if the selling
price is less than what I paid, so this is good to know.

Thanks for your reply.

Anoop

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anoop wrote:

- quote -

If you had a single sale of stock that is all long-term, you
only need to list one selling transaction in Part II of
Schedule D. Enter "Various" as the purchase date. You can't
complete the Schedule D until you compute the amount of
ordinary income on a qualified disposition. The Schedule D
needs to have the cost basis which will be what you paid
plus any amount included on the 1040 Line 7 as ordinary
gain. (I'm assuming that for any number of reasons, the
ordinary gain is not in Box 1 of your W-2). The employer's
investor relations department should be able to tell you the
grant dates. You need the grant dates in order to determine
the amount of ordinary gain to report. On a qualifying
disposition your ordinary income is the LESSER of the 15%
discount at the beginning of the offering period (grant
date) or the actual gain (sales price less what you paid).

- quote -

If the selling price was less than what you paid, and you
had a qualifying disposition, then you just report the loss
on Schedule D. If you had had a disqualifying disposition,
then the 15% discount is reportable as ordinary income and
you also have a capital loss.

- quote -

No, the shares purchased through dividend reinvestment are
not ESPP shares.

--
Alan
http://taxtopics.net

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I sold ESPP stock from 2 companies last year and had some
questions related to that. They are both from plans that
I was in more than 4 years ago (i.e. all of the stock
discussed below has been held 4 years or longer).

- In the first plan, the stock was purchased every pay
period (2 times a month) at a 15% discount. I have
about 50 or so purchases. Do I have to enter each of
these separately in TurboTax? Is there a way to get
around that? If so, what do I use for the grant date,
price on grant date, purchase date, purchase price, etc.?
Also, I don't know what the grant date was for
each of these purchases. The statement that I received
from the broker does list all of the purchases with
purchase dates, but it doesn't say anything about the
grant date. FWIW, all of the stock purchased in this plan
resulted in gains.

- In the second ESPP plan, I had transferred the shares
to a regular brokerage. I do have records of all the
purchases made, but I didn't receive a 1099 saying it
was ESPP stock that I sold. I assume that I must still
report it as ESPP. Is my assumption correct? Like
the previous case, I don't have information about the
grant date. But for this one, all of the stock purchased
resulted in losses.

- If I reinvested dividends received from these stocks,
then are those to be reported as part of the ESPP?

Thanks for any help with this.

Anoop

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