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Questions tagged [cost-basis]

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1answer
25 views

How can I calculate my cost basis for GENERAL MTRS CO WTS EXP 07/10/20?

About ten years ago The firm holding my money put some GM bonds into my investments. The records are gone and now the bonds are called: GENERAL MTRS CO WTS EXP 07/10/20.
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1answer
33 views

I don't have a 'I'll enter additional info on my own' button for correcting the cost basis of a stock sale

The help section of TurboTax says that to enter the corrected cost basis of a stock sale, I need to click the 'I'll enter additional info on my own' button, but I don't have this button.
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0answers
34 views

Why is the cost basis reported by a broker on RSUs 0 USD?

I notice that E-Trade reports on the Form 1099-B that the cost basis for vested RSUs is 0 USD. Shouldn't the cost basis that report in my tax form be the value of the shares at the time of vesting? ...
1
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1answer
38 views

Mismatched cost basis on 1099-B form for ESPP shares

I have a question about my 1099-B form regarding ESPP sales. My company allows me to buy shares at a 15% discount through an ESPP program. I buy-and-hold for 1 year 1 day so my sales are taxed at ...
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0answers
13 views

Does AMT for incentive stock option exercise affect cost basis? [duplicate]

Suppose I exercise some options from an ISO grant and doing so triggers AMT. Does the fact that I paid taxes on the bargain element of the option affect the cost basis of the stock or is the basis ...
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0answers
66 views

Calculating capital gains and cost basis after acquisition

I had Aetna stock that has gone through the CVS acquisition. 87.815 shares of Aetna. Value with final stock price of $212.70 is about $18,678. Cost basis of $2,160. CVS acquisition resulted in ....
1
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1answer
104 views

Roth IRA Nondeductible basis

I've been using TurboTax to file my taxes for the past decade or so. Since 2015, for income reasons, I have been making after tax (nondeductible) contributions to a Traditional IRA, and then ...
1
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1answer
48 views

Calculating the basis for shares of international stock mutual fund

I'm calculating the basis in connection with redeeming shares of an international stock mutual fund. The fund has paid dividends quarterly, which I reinvested. I'm reviewing the Federal 1099-DIV ...
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3answers
93 views

Tax-Gains Harvesting: which shares to sell

My annual income this year is low enough to take advantage of gains harvesting on some long-term stock share profits to reset the cost basis for a portion of my overall holdings. The share amounts ...
1
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3answers
149 views

Keeping track of “out of pocket” cost basis

Dilemma I have some criticism about the cost basis reported on brokerage websites. It isn't your out-of-pocket cost basis. It accounts for reinvested dividends. As a result, the gain/loss number ...
1
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2answers
170 views

Can my new technology reduce crypto taxes?

I invented a new technology that kills your gain taxes on crypto transactions and trades... or so I think :) I am hoping that this is the case but I am not really sure and I would like you to tell me ...
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0answers
56 views

Cost basis when bartering or trading

I am trading my painting for your sculpture via contract we made. We are both famous artists and at every given moment there is a market price for our art pieces. From what moment do I calculate my ...
6
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1answer
396 views

How is peer-to-peer lending taxed in the US?

If I make a $1000 investment in peer-to-peer lending, then are the repayments simply taxed as interest payments, similarly to interest earned in a savings account, or is there a reflection of the cost ...
2
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1answer
94 views

How do I report basis for an item I sold?

I sold an item, that I personally owned, to a business for more than the $600 1099 reporting threshold. This sale was not part of any money making venture. I sold it for less than my basis in said ...
1
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1answer
111 views

How do transaction and transfer fees affect the ACB of cryptocurrency assets?

Currently cryptocurrencies are taxed as capital assets in Canada, which uses the ACB when calculating capital gains and losses. I understand how to calculate ACB adjustments when buying and selling ...
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3answers
3k views

What is my cost basis for an old computer given to me by a client when they upgrade?

I do I.T. and sometimes a client will want to upgrade or buy a new computer even when their old one is decent. Suppose they give me a computer that they paid $1000 for, and the FMV is around $400 at ...
0
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1answer
282 views

Consequences of writing a covered call below your cost basis?

If you are holding a stock bought for $40 with a current price of $35 and decide to write a covered call at $39, does anything different happen than if you were to write the call at $40? At $39, ...
2
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1answer
111 views

Cost basis on sold rental property obtained by cashing out ex-wife, not incident to divorce?

My ex-wife and I bought and lived in a duplex. We eventually divorced and agreed to co-own the duplex where she remained. Later, she moved out and I moved in. (we were always on good terms). A few ...
2
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1answer
41 views

What is the correct cost basis to use for a qualifying disposition?

I sold some ISO stock this year that I've held for the required holding period so they can be treated as long-term capital gains and looking on my Form 8949, I see that my CPA has used the FMV as the ...
4
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1answer
163 views

Is a mutual fund sale eligible for a step-up in basis when spouse dies

Can a wife get a step-up in basis on a mutual fund sale when the husband is deceased(fund was owned together, living in California)? If so, do you just document the cost-basis research and then use ...
2
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0answers
78 views

In the U.S., is one who inherits artwork, antiques, or other such goods required to professionally appraise them before selling them?

Artwork, antiques, or other such goods: the category I am trying to refer to is those things which are sold on a market which is not liquid enough for it to be immediately obvious what the market ...
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0answers
63 views

If I convert a primary residence to a rental, are the cost of improvements potentially lost?

According to the IRS: When you change property you held for personal use to rental use (for example, you rent your former home), the basis for depreciation will be the lesser of fair market ...
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4answers
1k views

Buying stocks at one price then buying more at a higher price

If I bought 100 shares at $100 then 2 weeks later bought an additional 100 stocks at a $150, does the cost basis for my original stocks stay the same price of $100?
3
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1answer
127 views

If you a sell a percentage of your holdings in a fund and specify the average cost basis, can you later select another method when you sell again?

Suppose I bought $5,000 in Vanguard Total International Stock Index Fund over several installments, some before 2012 and some after 2012 (set to reinvest), and now it's worth $10,000. I would like to ...
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4answers
1k views

How to calculate weighted average cost while taking into account both buys and sells?

I'm trying to write a script that will analyze all of the buys and sells I have made for each cryptocurrency I own, and then tell me the average cost for a coin so I know the cost at which it is ...
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2answers
107 views

Is there a term for the portion of sale proceeds that match the cost basis?

Is there a word or phrase that refers to the portion of the net sale proceeds that aren't capital gain? I know that portion is equal to the asset's cost basis (gain = proceeds - cost basis), but I ...
1
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1answer
66 views

Cost is (maybe) part of basis for two assets

I bought two pieces of real estate from an online auction site. They charged me fee for the right to participate in the auction. First question: Should I count this fee as basis for these assets? Or ...
1
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1answer
66 views

What cost basis do I report on the 1099?

Let's say hypothetically $10,000 of RSU vested this past year. My employer has listed $10,000 of RSU onto my W-2 in Box 14. I elected sell-to-cover so now I'm left with ~$5,500 after the sell-to-...
0
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1answer
86 views

Stock split's effect on cost basis (2:1 split, US)

I just sold some stock and am now trying to calculate the cost basis of the stock for US tax purposes. Say I bought one share of stock X for $100, then a stock split occurs so I now have two shares, ...
0
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1answer
374 views

How to calculate cost basis for stock bought before a company spinoff? (USA)

In 2010, Questar Corp. spun off a separate company, QEP Resources. I had stock in Questar that I purchased before this spin off. At the time of the spin off, every share in Questar Corp. was ...
5
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1answer
823 views

1099-B, box 5, how to figure out cost basis?

(in the USA) I just got my 1099-B for stock that was sold last year. Since the company was bought out, all my stock in this company was sold. This stock was originally invested when I was very ...
3
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1answer
88 views

Find cost for specific investment over last year in GnuCash

I have a mutual fund account containing purchases over several years. Each year there are many individual purchases. The "Balance" column is useful for telling me the total number of shares purchased ...
1
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1answer
232 views

Can you gift assets to your parents well in advance of their deaths to get a cost-basis step-up?

I know that gifts given to parents by their children within one year of their death are not eligible for cost-basis step up upon inheritance by those same children. I understand that this is to close ...
9
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4answers
2k views

Gift house to parent then inherit it back to increase basis?

(Question for USA taxes.) Let's say that I have one remaining parent who is quite advanced in age. I own an investment house that has appreciated in value significantly. I want to sell it eventually, ...
6
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2answers
118 views

Cost Basis in Retirement Accounts Irrelevant?

Since distributions are considered income for traditional accounts, and Roth distributions are not taxed, does using Lot Identification instead of Average Cost (or vice versa) make any difference ...
0
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2answers
74 views

How do I determine if sale proceeds from an asset are taxable?

So let's say you're a small business and you buy a computer and expense that, and then later you want to sell it to buy a newer one. Is there an easy way to determine how much of this sale is taxable? ...
0
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1answer
66 views

Cost basis for imported shares formerly in an ISA

I recently became a resident of the US. I was formerly a resident of the UK. I transferred my stocks and shares from the UK to a US broker shortly after I moved. I understand that when selling these ...
3
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2answers
795 views

Why is RSU tax basis based on remaining shares after shares are witheld?

I'm trying to un-confuse myself about something I seem to have wrong based on my reading (This site, btw, seems to be a good resource.) If I vest 100 shares and the price was $20 that day, I will ...
1
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1answer
111 views

Costs around a modern crowd-sourced hedge fund

Consider the video from the front page of numer.ai. There, two statements are made 1) A hedge fund possesses a lot of expensive financial data [so numer.ai anonymizes this data before releasing it to ...
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2answers
518 views

Have you handled a Health Savings Account on your Alabama/California/NJ state tax returns?

I'm looking at https://www.bogleheads.org/wiki/Health_savings_account#State_taxation_of_HSAs where it says "you are required to keep good records, track the state cost basis manually, and report HSA ...
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1answer
161 views

How can Cost Basis be greater than the Amount Invested?

A friend owns a mutual fund, Capital World Bond Fund CL A. He has owned it for a fairly long time, but does not know how long. It might have originally been with a different brokerage about a decade ...
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0answers
182 views

Return of Capital and Non-Cash (Phantom) Distributions for U.S. ETFs

I think I finally have a understanding on how to calculate the Adjusted Cost Base (ACB) for my taxable Canadian securities. (Keep track of all buys and sells, use CDS Innovations to determine if there ...
4
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3answers
810 views

Why does my brokerage show “adjusted due to previous wash sale disallowed loss” when I sold my entire position?

Over a month ago, I wanted to do some tax-loss harvesting. I wanted to sell a fund that had dropped in value and replace it with a more generic fund. Right before I sold, the fund paid out dividends ...
1
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1answer
75 views

How to calculate taxes (really cost basis) on the sale of software-as-a-service product

here's the scenario: started an online software subscription product in 2008, the only product of the business. business that owns the product is a single-member LLC (disregarded entity) paid taxes ...
2
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3answers
149 views

Average cost basis based on total shares held or specific shares sold?

Let's say I bought 1 share in a Vanguard mutual fund each year for 10 years. Its price started at $1 and went up by exactly $1 each year, so the price of the latest share bought is $10. The average ...
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1answer
634 views

Handling rounding errors when picking cost basis

I am working on the capital gains taxes that the United States IRS demands (Form 8949 and Schedule D). Choosing a good algorithm for picking a cost basis for a sale seems to not be easy in the ...
4
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1answer
333 views

Calculating cost basis

I am trying to calculate the cost basis of a mutual fund held in an investment account (rather than a tax-sheltered account), for tax purposes. Date Trade Units Unit Price Amount -...
0
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2answers
2k views

How to determine the cost basis on primary home converted to rental (for depreciation)

I would like to know how to calculate the cost basis for a primary residence converted to a rental property. I purchased the home in Oregon for 200k in 2005. I moved out and rented it in May 2013. ...
5
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1answer
763 views

Cost basis step-up on inheritance of real estate

Assume there is a property owned by a couple with one son. When one parent dies, s/he bequeaths one half interest in the property to the son and half to the spouse. Two years later the property is ...
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2answers
447 views

Does FIFO cost basis applies across multiple accounts?

Do regulations require people to manually recalculate cost-basis across all the accounts they own, if stocks were transferred between them? Example: Broker A cost basis setting is set to FIFO. ...