| You asked "With this information, how do I fill out a Schedule D?
Well, lets see how well you did. Description.
I listed Description as 0.701 sh WMT.
Correct. Date Acquired.
I put VARIOUS as date acquired.
Correct.
Date Sold.
I put date sold as March 7, 2008.
Correct. Sales Price.
Sales Price is $35.
Correct. Now, what is the Cost or Other Basis?
Estimate what price you paid for the stock over the years that you purchased the stock. This is a difficult thing to assign a value, so do your best and the IRS will accept your word, but, most likely the cost basis would be below your sales price. Also, Gain or Loss?
Your software will calculate the gain or loss depending the cost basis of your stock. I suspect this amount would not be very material. Thus, it would be best if you made a best estimate of the cost basis. Long term or Short term Capital Gain or Loss?
The other fact is that this transaction should be reported as a long term capital gains or loss! |