Vic Dura <vpdura[at]CLUTTERhiwaay.net> wrote:
- quote -

Personally I think that Phil's comment, while a bit harsh,
was not out of line. As far as moderation, I think a light
hand is called for, and Dick does an outstanding job.

Stu

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"Chris Cowles" <spam_magnet[at]remove-me-bellsouth.net> wrote:
- quote -

Amazing isn't it?

Fortunately, there are not a lot of that kind of reply here.

--
To email me directly, remove CLUTTER.

Moderator:
I let Phil's reply through because it is just paraphrasing
the adage that if you can't prepare a return with pencil &
paper, software will not help you. In the next well-needed
update to the website, there will be a page with links for
software assistance.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"A.G. Kalman" <glendale202-mtmtax[at]yahoo.com> wrote:

- quote -

A succinct helpful reply. Many thanks. I had exactly the
same question as the OP.

--
Chris Cowles
Gainesville, FL

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"Phil Marti" <prm20871[at]verizon.net> wrote:

- quote -

Wow. And this forum is moderated?

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

SkyManX[at]hotmail.com wrote:

- quote -

The ESPP shares are handled under the rules for qualified
stock options. How you report them and compute ordinary gain
and capital gain/loss will depend upon whether you had a
qualified or disqualified disposition.

The 50 shares you purchased via dividend reinvestment are
treated the same as any other over the counter purchase. You
use the actual date of purchase and the price you paid as
their cost basis. If there were lots of small transactions,
you can lump all the short term transaction together and use
"Various" as the purchase date. Ditto for the long term
transactions.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

<SkyManX[at]hotmail.com> wrote:

- quote -

That makes no sense. The 1099-B shows only sales proceeds.
You have to compute the basis yourself.

- quote -

You overestimate it. It will take whatever numbers you put
for your basis, since it knows no better.

- quote -

Ah, so we're using the interview. If you can't figure out
how to do this through forms entry rather than the
interview, give up and go pay someone to do your return
rather than incurring the medical expenses of a stroke.

If you sold all your shares it should be pretty easy through
forms entry mode. Your basis is the total invested,
including reinvested dividends and any amounts deemed to be
wages. You do have to split it between long and short term
holdings.

Then you go to the 1099-B input form and plop the
information in the appropriate spaces, using "various" for
the purchase dates, as appropriate, as you'd know from the
Schedule D instructions if you were doing the return without
the "assistance" of software.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

I sold some ESPP stocks last year which included some
dividend reinvestments. The 1099-B shows the total shares
sold including the reinvested dividends. I also have a
1099-DIV which includes those same dividends plus some
additional ones.

I'm trying to figure out how I enter this information into
TurboTax. When I entered the ESPP purchase I entered the
data from the 1099-B form. However in order for all the
numbers to add up I would need to include the reinvested
dividends but I'm not sure how to enter them since TurboTax
will complain if the numbers don't add up.

For example, the 1099-B shows
Box 1a: 09/15/05
Box 2: $10,000.00
Quantify: 500

For this example I purchased 450 shares through my ESPP and
50 shares through dividend reinvestment. For the 450 shares
I have the purchase date, grant date, etc. For the 50
shares I have the purchase date, price/share, number of
shares. Would I enter the purchase date under the grant
date and the FMV the price/share?

Thanks,
- S

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >