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Tyrone J. Taylor
Tyrone J. Taylor, Enrolled Agent
Category: Tax
Satisfied Customers: 52
Experience:  Owner at Taylor Tax and Financial Consulting
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My father worked and in 2015 he sold the stock 500 shares I

Customer Question

my father worked for Verizon and in 2015 he sold the stock 500 shares I need a cost basis he is 87 years old
JA: The Accountant will know how to help. Please tell me more so we can help you best.
Customer: he got stock options but has no paperwork
JA: Is there anything else the Accountant should be aware of?
Customer: no
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: 1 year ago.
Category: Tax
Expert:  Tyrone J. Taylor replied 1 year ago.


I am an Enrolled Agent and have 9 years of Tax Preparation and Tax Representation experience. I also am a former Series 7 Stockbroker.

Do you happen to have t any information about how much he had to pay in the documents you have related to the stock option? Or do you have the date the stock option was exercised?

Customer: replied 1 year ago.
No he has nothing
Expert:  Tyrone J. Taylor replied 1 year ago.

Was he granted the shares as an employee of Verizon?

Customer: replied 1 year ago.
No he bought them New England telephone stock in 1978
Expert:  Tyrone J. Taylor replied 1 year ago.

This is going to be difficult. So this was New England telephone stock that was converted to Verizon Stock when Verizon purchased them. Does that sound about right?

Customer: replied 1 year ago.
Expert:  Tyrone J. Taylor replied 1 year ago.

Outside of actual Verizon personnel, I do not know who could help you with this issue. I have found the Verizon Investor information page. You may be able to e-mail them and they might be able to assist you. Basis is, as you may or may not know, the total cost of purchasing the stock. It may be very low and not necessarily have a major affect on your father's capital gain because many stock option grants to employees are usually priced very low.

I hope I have been able to effectively answer your question. If not, please contact me again. If I have, please kindly go ahead and rate my answer. Thank you, ***** ***** a great day.

Expert:  Tyrone J. Taylor replied 1 year ago.

Good afternoon,

I am just checking to see if you had any further questions about your issue. If not, please go ahead and provide a rating to my answer as that is how your question is closed out in my system. Thank you and have a great day.