Discussion:Sale of stock - 1099-B

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Revision as of 22:06, 14 March 2009
Kevinh5 (Talk | contribs)
(ok, those compan)
← Previous diff		 Revision as of 22:07, 14 March 2009
Www.cpa1.biz (Talk | contribs)
(This is a hard o)
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{{ForumReplyPost|UserID=Kevinh5|Date=14 March 2009|Text=ok, those companies didn't follow the tax law but we can't police that.}} {{ForumReplyPost|UserID=Kevinh5|Date=14 March 2009|Text=ok, those companies didn't follow the tax law but we can't police that.}}
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 +{{ForumReplyPost|UserID=Www.cpa1.biz|Date=14 March 2009|Text=This is a hard one. I asked him if he had any options and he said no. I have reviewed his last two W-2s from 2006 and 2007 and they show no type of stock options. I have to think there is 0 basis here.}}

Revision as of 22:07, 14 March 2009

Discussion Forum Index --> Advanced Tax Questions --> Sale of stock - 1099-B
Discussion Forum Index --> Tax Questions --> Sale of stock - 1099-B

Www.cpa1.biz (talk|edits) said:

14 March 2009
Almaanacers,

I have seen this twice already. Stock was sold for two TPs. They say the stocks were given to them from the companies they worked for. These are not options. They were just given. Does this mean they have zero in basis?

Please advise.

Bj

Deback (talk|edits) said:

March 14, 2009
Yes

Kevinh5 (talk|edits) said:

14 March 2009
probably not - these weren't 'gifts', they were part of earned income. They didn't 'give' anyone who walked by shares, only employees. The company should have added the value to their W-2 when they issued the stock to the employee. That would be the basis - whatever was added to their W-2.

Deback (talk|edits) said:

March 14, 2009
Not necessarily. I've seen where employers gave stock to employees and did not include the value on the W-2 form.

Kevinh5 (talk|edits) said:

14 March 2009
ok, those companies didn't follow the tax law but we can't police that.

Www.cpa1.biz (talk|edits) said:

14 March 2009
This is a hard one. I asked him if he had any options and he said no. I have reviewed his last two W-2s from 2006 and 2007 and they show no type of stock options. I have to think there is 0 basis here.
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