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Questions tagged [cost-basis]

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Can tools/equipment be counted towards my home's cost basis?

Assuming a tool was used to make a house improvement that exists when the home is sold, can the tool be counted towards the home's cost basis? Examples of tools I foresee as yes: Miter saw used to ...
Scott Lin's user avatar
  • 113
0 votes
1 answer
74 views

Should I enter the non-adjusted cost basis or the adjusted cost basis in Box 1e in Form 1099‑B in TurboTax for ESPP (Employee Stock Purchase Plan)?

I'm filing my taxes in the US since I reside in WA state and I'm being asked by TurboTax to enter "Box 1e - Cost or other basis Learn more" for some Employee Stock Purchase Plan (ESPP) ...
Franck Dernoncourt's user avatar
-4 votes
1 answer
263 views

I accidentally sold all of my Bitcoin with a limit order because I had never done one before

I decided to try a limit order to sell all of my Bitcoin if it dropped to a low level. This was my first time trying a limit order. I didn't understand that it would sell at my low asking price, which ...
Formul8's user avatar
2 votes
0 answers
71 views

Wash sale and excess replacement shares

Let's say I had 10 shares of XYZ. On Dec 1 I sold 10 shares for XYZ for a loss ($1 per share, total $10). On Dec 2 I bought 20 shares of XYZ (single lot). So previous sale (On Dec 1) was a wash sale. ...
Andrey's user avatar
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0 votes
1 answer
87 views

How to calculate depreciation to get to the adjusted cost basis?

I am trying to get to my adjusted cost basis on an apartment. I already looked at this page but it would help if someone could help me with this. Do I need to factor in depreciation, or can I just ...
simpleperson's user avatar
1 vote
1 answer
391 views

RSUs: Can the cost basis for sell-to-cover transactions be calculated using FIFO, or does it have to be LIFO?

My RSU vesting happens with an associated sell-to-cover transaction for tax purposes. The page on my brokerage (E-Trade)'s website shows the cost-basis for this transaction as though it was calculated ...
Deadly Piglet's user avatar
1 vote
0 answers
217 views

Looking to resolve missing cost basis after transfer of funds to another brokerage

Back in 2021, I transferred all of my assets to a different brokerage. After the transfer completed, two of four assets have had an incomplete cost basis due to missing information for a very small ...
debarnacles's user avatar
0 votes
1 answer
50 views

How do I know if selling equity is better or not in this problem?

In this exemplar situation, how do I know if selling my equity is better nor? Situation: I have a small business which I am a 50% owner of. The business is currently worth $6,000,000 and is making $...
daf8u3fk's user avatar
2 votes
1 answer
2k views

Can I include the costs incurred for adding landscaping to the cost basis of my house?

Although there is a $250,000 gain exclusion for those who qualify, it's probably a good idea to track costs beyond original purchase price to track a more accurate cost basis. I've read that expenses ...
Dan the Man 2015's user avatar
2 votes
0 answers
122 views

In a non-community property state, which shares get stepped-up basis when held jointly by a married couple and one spouse dies?

Let's say a married couple lives in a non-community property U.S. state. They have a taxable joint brokerage account and periodically buy shares of stock. One spouse dies so the other spouse is ...
Craig W's user avatar
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2 votes
1 answer
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How to determine if a mutual fund sale is a gift or purchased if sold from a transferred account?

I received ownership of a mutual fund account from my father about 15 years ago which I have continued using. Turbotax has just started asking me this year how I received the investments that were ...
duct_tape_coder's user avatar
5 votes
1 answer
515 views

What is the law/regulation which prohibits brokers from reporting basis on RSUs?

As far back as I can remember, the basis reported by my broker on my 1099 for vested RSUs has always been $0. Every year I receive a letter informing me that my broker is legally not allowed to report ...
thbrown's user avatar
  • 53
0 votes
1 answer
96 views

Are premiums from options taxable at assignment or sale of the security?

If I write puts that end up assigned, meaning I purchase the underlying security, are any taxes generated by the option in the year when it gets assigned? Are taxes only generated when the underlying ...
Hari's user avatar
  • 419
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1 answer
94 views

Do in-kind security transfers from a US broker to another US broker keep track of the cost bases and holding periods?

If the specific US brokers matter, securities would move from Fidelity to Charles Schwab.
Franck Dernoncourt's user avatar
1 vote
2 answers
121 views

How to calculate cost basis for list of incongruent batches of buy and sell transactions (forex trading)

How can I calculate the cost basis for my forex portfolio at any given time? I'm trying to build a spreadsheet to track forex trading of cryptocurrency pairs. Specifically I'm looking at XMR-BTC ...
qualityfreckle's user avatar
2 votes
2 answers
3k views

How does adjusted cost basis work with RSU? And should I use it?

I've got an 1099-b for some RSUs sold. I've also got a Stock Plan Transactions Supplement form. The Stock Plan Transactions Supplement shows the 'adjusted cost basis'. The 1099-b does not. The ...
Geo's user avatar
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2 votes
3 answers
2k views

How are capital gains handled when selling only a portion of a property?

What are the rules for declaring capital gains and cost basis when selling a portion of a property, not the whole thing? For example, suppose I buy a property for $1 million and half of that is paid ...
Five Bagger's user avatar
  • 9,785
2 votes
2 answers
1k views

How does selling some shares affect cost basis + average price

I am building a stock portfolio tracking application, and I am having some difficulties wrapping my head around something very basic (maybe I'm just tired) How does selling a stock affect the cost ...
Daniel Cooke's user avatar
2 votes
1 answer
747 views

Moving from Robinhood to TD Ameritrade: Can I use specific-lot-matching method?

I've been using both TD Ameritrade and Robinhood for a while. I just learned that on TD Ameritrade, you can use the specific-lot-matching method when you sell your shares. It's in My Account -> ...
CodeOwl's user avatar
  • 313
5 votes
1 answer
602 views

Short term tax or long term tax on non retirement mutual funds

I have been contributing to a mutual funds account (non-retirement) each month. Since, it is a non-retirement account I can pull out funds anytime I want. I want to ask if I pull out part of the funds ...
Mary Doe's user avatar
  • 759
1 vote
1 answer
165 views

figuring out the cost basis of a primary home converted to rental and then off rental

I bought an apartment in Washington DC in 1995 to live in. Subsequently I moved out of DC (and a few years ago, out of the country) but kept the apt and rented it out for many years. I paid the ...
punkish's user avatar
  • 271
-1 votes
1 answer
73 views

How do I determine the division of cost basis for multiple NFTs minted in a single transaction?

I understand (I think) how to assign cost basis (for income tax) to ordinary minted NFTs: Convert the minting price (including gas, fees, etc.) in cryptocurrency to dollars using the market rate at ...
Robert's user avatar
  • 499
0 votes
1 answer
312 views

If Stocks are given as a gift, is the cost basis preserved?

When selling a gifted stock, is the entire value considered taxable income, or is the original cost basis used to calculate the difference? Thank you
Hoiflutz's user avatar
3 votes
0 answers
41 views

Cost Basis of Foreign Property That Becomes Subject to US Taxation [duplicate]

Let's say a non-US person moves to the US and then becomes US person for tax purposes of that year. At the time of arriving to the US, the person has been holding onto some property (i.e. stocks and ...
Ahmed Ihsan Tawfeeq's user avatar
1 vote
1 answer
2k views

Must I select "The cost basis is incorrect or missing on my 1099‑B" in TurboTax in the case of vested RSUs?

I file my US taxes via TurboTax as a US lawful permanent resident. Some of my RSUs vested in 2021, which I partly sold in 2021. My employer uses E-Trade for RSUs. E-Trade reports on Form 1099-B that ...
Franck Dernoncourt's user avatar
2 votes
1 answer
722 views

How do I determine the cost basis on old stock?

We've had some stock in one company since the early 1990s. We had the dividends reinvested in the stock each time they were paid, so the records show we bought fractional shares from time to time over ...
Bytewench's user avatar
0 votes
2 answers
146 views

Could trading mutual funds be less expensive than ETFs?

I see there some mutual funds are no-transaction-fees NTF and no-load (or load-waived), the expense ratio of some of them is ~1% just like some ETFs, are both the same or trading (short term ...
huab's user avatar
  • 927
2 votes
0 answers
44 views

Stepped-up Basis with a Revocable Living Trust

Scenario is this: son was trustee and invested extra savings in cryptocurrencies while father was alive and not able to make his own decisions. A few additional cryptocurrencies were purchased after ...
NealWalters's user avatar
0 votes
1 answer
119 views

Stepping up cost-basis on primary residence

This is the US. As far as I'm aware as a single person you have a $250,000 capital gains exemption if I lived in the house two of the past five years. I'm planning on moving out of my primary ...
asdfasdfasfdhsadf's user avatar
1 vote
1 answer
50 views

Depreciation Basis on Purchased Commercial Foreclosure

I've hit a roadblock in my research on the use/abuse of TIFs. I've asked some professionals the below question, however, none were willing to answer or gave me conflicting answers. The question: What ...
JayJay123's user avatar
  • 113
1 vote
0 answers
28 views

Are there any expenses related to managing renovations on a remote property that can be applied to increasing its cost basis?

I purchased a home in another state that has needed major rehab and renovation. I have been traveling to the location to organize, design, and monitor the numerous jobs performed by contractors (all ...
WestCoastProjects's user avatar
2 votes
3 answers
11k views

What is the cost basis for my RSU? My 1099-B says $0

Block 14 of my W2 says $40,000 RSU. My paystub itemized the $15,000 tax deductions (fed, state, SSA, etc..). Out of the remaining $25,000, twenty thousand dollars were deposited to my E-Trade ...
Totoy Laki's user avatar
3 votes
1 answer
462 views

How to calculate capital gains on multiple trades of the same stock?

I'm curious what is my capital gain for tax purposes if I trade a security and never sell my entire position? Here's an example of what I mean: In January, I buy 10 shares of Stock A at $1 per share. ...
learningtech's user avatar
0 votes
1 answer
180 views

Taxes on shares transferred from one account to another

I recently closed my Edward Jones account and performed an in kind transfer of all my shares to my Ally Invest Account. I see all partial shares (from my DRIP) had been sold for cash before the ...
rhavelka's user avatar
  • 549
2 votes
2 answers
233 views

Is this the right way to calculate capital gains when cashing out a mutual fund?

I cashed out a taxable mutual fund in January. It is a long held fund. I got an activity history of all the transactions so that I can figure out an estimated tax to send in to the IRS as currently, I'...
MinnieB's user avatar
  • 21
1 vote
1 answer
118 views

Average cost basis for tax

Trying to understand how average cost basis works. What I didn't find is if after a sale the computation of cost basis will change for a security: I calculate the cost basis as average cost during all ...
Ghita's user avatar
  • 139
1 vote
1 answer
98 views

How to compute unit average cost after capital gain distributions?

My question is about how and why the average cost of a stock is re-computed after the capital gain distributions of the corresponding fund. I'll give the actual example that confuses me to ground the ...
Julep's user avatar
  • 111
1 vote
1 answer
595 views

IRS Wash Sale Rule: can a single lot be adjusted more than once?

When the only eligible replacement shares for a wash sale basis adjustment have already been adjusted, are they adjusted again? Or is the loss allowed? Example: Suppose this is the entirety of my ...
enaumov's user avatar
  • 11
1 vote
1 answer
2k views

Can I select lots for exercised covered calls on transferred shares where I'm tracking the cost basis?

I wrote covered calls against multiple lots of company A stock, each lot with a different cost basis. I originally bought the shares through eTrade, later transferring them to Vanguard. Only a portion ...
Spig's user avatar
  • 769
1 vote
1 answer
78 views

Should spouses filing together, who both have traded bitcoin, mix transactions when calculating FIFO cost basis?

Or should the two sets of transactions be kept separate for calculating cost basis and gains/losses? On a related note, what if one person filing alone has accounts at multiple exchanges, should the ...
morsecoder's user avatar
6 votes
1 answer
351 views

How figure out cost basis when the same asset is located in different brokerage accounts?

I have two brokerage accounts Robinhood and TD Ameritrade. Here are my transactions for ABC stock: Jan 10, 2020 bought 10 ABC from Robinhood. ABC price $50 Jan 15, 2020 bought 70 ABC from TD ...
user105240's user avatar
1 vote
0 answers
30 views

how to transfer ownership of private illiquid shares and what is cost basis?

I own a few shares of a private firm. The shares are registered at Carta, but trading is not allowed. How can I transfer the ownership to my son so that the cost basis would be the price I bought them ...
Aksakal almost surely binary's user avatar
2 votes
1 answer
142 views

Cost basis of Limited Partnership assets

There is a limited partnership (an LLC taxed as a partnership) that owns various assets. If I buy interests in the partnership from existing limited partners at an arbitrary price, how is the cost ...
CQM's user avatar
  • 20.2k
1 vote
1 answer
37 views

Question about ROIC

I was reading a book called "Pitch the Perfect Investment" and I reached a table of data I did not understand (attached below). Can anyone explain why cost of capital is not tallied for the ...
InvestingBeginner104's user avatar
2 votes
1 answer
4k views

Determining cost basis in a SPAC unit split into stock and warrants

I bought 400 shares of IPOB.U at $11.84/unit. Each unit can be split into 1 share + 1/3 warrant when the holder desires (after the stock and warrants start trading freely, but not before.) I called my ...
spac splitter's user avatar
1 vote
2 answers
385 views

Wash-sale Cost Basis Adjustment question

I wonder about the Adjustments to Cost Basis after a wash sale occur. Considering this Example 1 ( from marketwatch.com) where someone: On 1 Dec, 2018 used an amount of money in his account to buy 100 ...
domino's user avatar
  • 595
-1 votes
1 answer
207 views

Wash Sale Rule --> disallowed loss carry forward in this particular scenario where I buy replacement shares just *before* selling the entire position?

Please see the example below illustrating a scenario where I buy replacement shares before selling the entire position. My questions are: If I don't buy replacement stock for 30 days after May 8th (...
Hassan's user avatar
  • 1
1 vote
0 answers
41 views

Allowable depreciation for rental property with varying personal usage

I have a rental property (in the United States; Washington D.C.) that has not strictly been used 100% for business purposes over time. At various times I have occupied different portions of the ...
Ahnold's user avatar
  • 43
1 vote
1 answer
175 views

Roth conversion: why is cost basis the basis of original SEP-IRA investment?

I just converted some money in a SEP-IRA to a Roth IRA. The value of the fund that money was invested in was down about 10% from when I initially invested in the SEP-IRA. Once the transaction was ...
NeutronStar's user avatar
  • 1,322
0 votes
1 answer
792 views

Same stock in separate accounts. FIFO implications

If I held shares of a specific stock since 2016 in one account (let's say Fidelity) and would like to day trade the same stock in another account (E-trade) would the cost basis be treated separately ...
Seb's user avatar
  • 1