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Arthur Rubin
Arthur Rubin, Tax Preparer
Category: Tax
Satisfied Customers: 1493
Experience:  22 years of tax preparation experience, including individual, trust, and estate returns.
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I sold 385.852 shares of IBM ESPP stock on 06 July 2015. I

Customer Question

I sold 385.852 shares of IBM ESPP stock on 06 July 2015. I am using TurboTax Premier to calculate taxes owed, if any. TurboTax wants two pieces of information that I cannot determine: 1) First day of your offering and 2) Market Price on grant date (per share).
JA: The Accountant will know how to help. Anything else I can tell the Accountant before I connect you two?
Customer: Initial share were purchased 15 Jul 1992. Last share portion was purchased 31 Jan 2000.
JA: I'm sending you to a secure page on JustAnswer so you can place the $5 fully refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and connect you two.
Submitted: 6 months ago.
Category: Tax
Expert:  Arthur Rubin replied 6 months ago.
Thank you for using Just Answer. TurboTax is correct in requiring that information for each ESPP stock purchase. It needs both the first day of the offering for each periodic purchase, and the grant date. I can (probably) determine the "Market Price" on the grant date given the grant date, but
Customer: replied 6 months ago.
Unfortunately, your answer was not complete (truncated on 2nd line).Also, I thought I was paying a $5.00 fee to start, but PayPal has charged me $38.00. What's up?
Expert:  Arthur Rubin replied 6 months ago.
You're right; my answer was truncated, and mistaken. The date of the offering is only relevant if within two years of the sale date, and the grant date (except for the calculation of market value) is only relevant if within one year of the sale date. However, the difference between your cost and the market value may be ordinary income, so Turbo Tax (and any accountant you might consult) would need that information in order to accurately compute your taxes. The purchase statement may have that information, if you retained it. (Mine did, the last time, I worked for a company which had an ESPP.) I cannot answer questions about fees, please contact customer service.

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