Discussion:Return of capital results in negative basis
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Revision as of 04:04, 7 April 2009
Discussion Forum Index --> Advanced Tax Questions --> Return of capital results in negative basis
Discussion Forum Index --> Tax Questions --> Return of capital results in negative basis
| 7 April 2009 | |
| Client has stock he bought a few years ago for $6 - recently got a $10 per share nontaxable return of capital distribution. I assume it is a long term gain of $4 per share reported just like a sale on Sch D - basis 6, proceeds 10, zero basis going forward. Is that correct? Reported gross proceeds won't match but no one ever got quesrtioned because the reported gross proceeds exceeded the 1099B reports right? | |
