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On 1099B from Stanley I have 2 items with no cost basis

On 1099B from Morgan...

On 1099B from Morgan Stanley I have 2 items with no cost basis shown. In one case it was an exchange with cash in lieu of and in the other there was also a fractional share paid in cash?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

One entry was for 13,07 and the other for16.50?

Accountant's Assistant: Is there anything else important you think the Accountant should know?

How would basis be determined as there technically was no sale?

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3/16/2018
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
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For most splits, you'll assign your fractions a basis based on the average cost per share: the value of all purchases plus commissions and fees divided by the number of shares you hold, including fractions.

Other corporate actions may use this method, or they may treat the whole fraction as gain, which means your cost basis is zero.

As the amount is so low you can report the basis as $0 and the amount is not really going to make a difference in the tax liability. Report the cost or basis as $0.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
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Experience: 15years with H & R Block. Divisional leader, Instructor
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Customer reply replied 1 month ago
Thank you...

You are most welcome.

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