Questions tagged [cost-basis]

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366 views

During retirement, what if form 8606 is missed one year? Non-deductable traditional IRA contributions

What happens if, during retirement, you miss filing form 8606 one year? Form 8606 is used to track non-deductible contributions to an IRA. In retirement those contributions can't be taken out all at ...
2
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0answers
88 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
21 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 ...
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0answers
34 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 ...
1
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0answers
184 views

Reporting adjusted cost basis for ESPP shares

I have a 1099-B from selling some lots of shares purchased through an ESPP. The sales are qualifying dispositions as the shares were held longer than 2 years from the grant date and 1 year from the ...
1
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0answers
558 views

What value to enter in yahoo finance cost basis

I've just started using yahoo finance. I've only bought shares at atm. I've added Portfolio->My holdings-> Symbol-> Lot Under Lot what is the value to enter on Cost basis? Is it share cost per share ...
1
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1answer
89 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 ...
1
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0answers
212 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 ...
0
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1answer
36 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 ...
0
votes
1answer
327 views

Can I change a cost basis method retroactively?

On Form 8949 of my 2017 tax return, I reported short-term (Box C) & long-term (Box F) "transactions not reported to you on Form 1099-B". Will the IRS allow me to file an amended return that ...
0
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0answers
69 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 ...
-1
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2answers
120 views

When I am continually trading an asset, when does each wash sale loss get applied?

Let's say I buy 20 shares of stock at $100 each, and later sell half of those shares at $90. Less than a month later, I buy back 5 shares of the same stock at $95. The stock then rises to $101 and I ...