Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Just a couple of questions pertaining to reflecting the sale of several equities last year.

1. First, when I transferred my assets from Fidelity (which allows fractional shares) to Scottrade (which does not allow fractional shares), at the time the funds transferred Scottrade provided "Cash in Lieu" for the fractional shares of three separate equities. My problem is that the 1099-B from Scottrade does not reflect a transaction to account for the fractional shares. I have sufficient information from the regular monthly statement during which the action was taken to complete the proceeds amount, but I've read so much about the Schedule D needing to match the 1099-B, I am curious as to whether I am am going to cause a problem showing the sale of fractional shares on my Schedule D?

2. The sale of 1000 shares of XYZ resulted in 10 separate electronic transactions of 100 shares each on my 1099-B (all on the same date), with each transaction reflecting a slightly different per-share cost. Even though this resulted in only a single commission, I am wondering if I can show this as a single sale of 1000 shares on Schedule D and just sum the proceeds from each of the 10 separate electronic transactions, or whether I need to actually reflect 10 separate sales on Schedule D? (Actually, this occurred on just about every one of the equities sold for some reason, but the other instances only resulted in two separate transactions on the same date respectively. I know I have to show as separate transactions the long-term and short-term shares.)
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.