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03-23-2017 12:32 AM
I am trying to report Cost Basis correctly and hoping someone can look at this and tell me if I am correct. This doesn't include the shares sold at vest to pay for taxes (should those be included?). This information is from my Advice of Sale
Cost Basis = $23.79 x 59 = $1403.61-$2064.91 = $661.00 total cost basis or is my Cost Basis just $23.79?
Grant Date 04/17/2008
Vest Date 04/17/2010
Cost Basis $ 23.79
Sale Date 07/18/2016
Shares Sold 59
Sale Price $35.03
Total Sales Proceeds $2,066.77
Brokerage Commissions $(1.77)
Transaction Fee $(0.09)
Net Proceeds $2,064.91
03-26-2017 04:43 PM
Welcome to the H&R Block community.
You're kind of on the right track.
Your total cost basis in the sold stock/securities (and the figure that you'll want to report) is $1403.61 ($23.79 x $59). Your proceeds are $2,064.91.
When you enter these two figures your taxable amount will be $661.30 which is your gain.
If you have any other questions I'll be glad to help.
Senior Tax Advisor (Tampa, FL)