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Financial Planning / Tax Strategies


Subject:  Re: Exchange rates and cost basis of foreign sto Date:  3/3/2014  6:45 AM
Author:  JeanDavid Number:  120326 of 131743

Last year I have sold some stocks through my German brokerage in a transaction that was denominated in Euro currency.

For myself I have computed the USD cost basis and sales prices for each such sale using the exchange rates (for purchase date and sales date respectively) from the Federal Reserve website.

My German broker supplied me with 1099-B forms

I wonder how they do that. I have a similar (but not identical) situation where I have a Swiss annuity that pays me something annually. It is denominated in Swiss francs.

It is a Swiss insurance company, not a brokerage. I really wish they would send me a 1099-R form each year, whether they send one to the IRS or not. But they do not. So I have to write them each year to get the required information, look up the value of the Swiss franc on the payment date, figure out what part of the payment is return of principle and what part is interest, and put that on the miscellaneous income line on the 1040 form. I cannot get TaxAct to let me enter it all into a blank 1099-R form because I do not have the Swiss insurance company's taxpayer ID number (since they do not have one).
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