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Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 3471
Experience:  3+ decades of varied tax industry exp. Tax Biz owner
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I purchased few same stocks in 2010 and it s a short term

Customer Question

I purchased few same stocks in 2010 and it s a short term sold all at once in 2011 .. Now my statement 1099 came . I need to file tax now. On the statement only shown sell , no basic cost . When filing tax , it ask me to enter the acquisition date .what should I do now ?
Submitted: 5 years ago.
Category: Tax
Expert:  Tax.appeal.168 replied 5 years ago.
Hello, THANK YOU for choosing Just Answer. My goal is to help make your life...a little...LESS taxing.

If you don't have the acquisition date, some tax programs allow you type the word various in that section. As for the cost basis, if you don't know the original purchase price, you will need to contact your broker for original cost basis of the stock. Also note that in addition to the Schedule D, starting this year, the IRS has designed a new Form 8949 for reporting capital gains and losses. A summary of the information listed on this form is carried over Schedule D. A couple of new columns are added to Form 8949 reporting – one for adjustments to basis (in case your broker has an incorrect figure) and one for coding the transaction to identify the type of sale.

Please let me know if I can be of further assistance to you regarding this matter.

Thank you.