How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Wallstreet Esq. Your Own Question
Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 577
Experience:  10 years experience
16356563
Type Your Tax Question Here...
Wallstreet Esq. is online now
A new question is answered every 9 seconds

M of money? I do not know the value of the amount when the

Customer Question

m of money? I do not know the value of the amount when the insurance company awarded me this stock so how do I figure the capital gains, Second question how do I make the payment?
Submitted: 9 months ago.
Category: Tax
Expert:  Tyrone J. Taylor replied 9 months ago.

Hello,

I am an Enrolled Agent with 9 years of tax preparation and IRS representation experience.

It is important that you find the value of the stock for the insurance company, or you may have to pay more in taxes than you normally would. If you know the date you purchased the stock, that can assist you in determining the the price of the stock at the time is was purchased. The insurance company also may be able to tell you the price of the stock.

Was the stock all purchased at the same time? Or during various periods?

Expert:  Tyrone J. Taylor replied 9 months ago.

Good afternoon,

I am attempting a follow-up to your question. Can you let me know the answers to the above questions so I may assist you further. Thank you.