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Re: OT: Any tax/finance people who can help with tax stock
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Posted by bender [Email] (#268) [Profile/Gallery] (more from bender) on Wed, 8 Jun 2016 13:17:38 Share Post by Email
In Reply to: Re: OT: Any tax/finance people who can help with tax stock, RodM, Wed, 8 Jun 2016 12:52:25
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Thanks for the reply RodM! Yea...lots of fun. I'm only investing so much time because there may be a large error. Would much rather be doing something else :)

So I took a look at the 1040 schedule D that was generated by TurboTax. Should then, column d and column e ("proceeds" and "Cost of other basis" respectively) be about the same? So that their difference is close to 0?

Currently proceeds is, say, 20k and the cost basis is some small amount like $200. So, the difference is large and my "gains" are close to said 20k. I think this is where it's wrong, correct? The basis, I think from what I've read should be: per share basis * # shares sold to cover taxes. I think what I have there in cost basis is the *per share* basis.

Thanks so much! I always trust to come here.

Bender.
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bender

2001 9-3 Viggen Laser Red 5 door 48k miles
2000 9-3 SE Midnight Blue 5 door (Sold)
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