Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 122052  
Subject: Re: Cap Gains on Gift Stock Date: 2/12/2000 12:42 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
<<In 1948, when I was three, I was given a single share of T. With its splits I had 9 shares. I sold these recently under a oddlot scheme for $15. >>


<<As they were all splits from a girft stock, how to I calculate the captial gains tax on these. They would be all long term gains except for the three that I received in 1999.>>

They may still all be long term. I have an article on this very subject. The splits aren't a problem. They'll retain the same holding period as the original shares. Your cost basis is the original cost basis of the person who gave you the shares in 1948. I'll be that you don't have those records. But for such a small amount of money, you might just look up the share price way back in 1948 and use that as your basis.'ll be virtually nothing anyway.

<<I also had a proprotionate amount of LU stock that I have received as a "spin off" of T, which I similarly sold.>>

Yup...and in order to allocate your original basis, you'll have to use the formula provided by T. They should have sent it to you LONG ago. Perhaps you simply misplaced it. Regardless, you'll need that formula in order to allocate your original T basis to your new LU shares.

<<I cannot find historical prices (1959 & 1964) for anything other than the 1990s splist. However could T could advise on these if need be?>>

That would be the first place that I'd call. They certainly have all of the records and information.

TMF Taxes
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread


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.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
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.
Post of the Day:
Supernova Explorer 1

The Follies of Market Timing
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
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.