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RD, Certified Public Accountant (CPA)
Category: Tax
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Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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I am prepared to sell all my Walmart shares that I have ...

Resolved Question:

I am prepared to sell all my Walmart shares that I have accumulated over 16 years. When it comes to Cost Basis, I know that reinvested dividends and purchase of shares will be included in the Cost Basis. How do I treat the Company Contribution shares (matching 15% of my purchases during my employment) it made over the years toward the Cost Basis? Can I also include the Maintenance Fee as a Cost Basis? I indent to proceed to deduct the purchase price, dividend reinvestment and maintenance fee (that I have a complete record)from the selling price of all my shares to obtain my Capital Gains. And, do I treat the last four quarter dividend payments in additional shares as short term capital gain?
Submitted: 6 years ago.
Category: Tax
Expert:  RD replied 6 years ago.

Was the Company contribution shares included as income on your W-2?

 

Customer: replied 6 years ago.
I believe it was. I may have to dig up old pay statements. Should be standard procedure for a company to include the contribution as income.
Customer: replied 6 years ago.
I have found the pay statements and the Company contributions were included as income. Do these amounts qualify as a Cost Basis?
Expert:  RD replied 6 years ago.

You cost basis will be the purchase price paid by you, the dividend reinvestment and the amount that company included as income for the 15% contribution shares.

Maintenance fees is not an expense related to selling or purchasing the shares. It is fees related to maintaining your account and hence will not be part of the cost basis unless it is related to selling or purchasing the shares.

Yes, the sale of shares related to the dividend reinvestment in the immediately preceding year will be considered short term capital gain.

 

Let me know if you have any question. Bonus and Feedback will be highly appreciated!!!

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

 

 

RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience: CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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