Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Thanks Phil and loopholes.

Yes, I knew about the reduction in basis. I will have to review my sales.

Yes, I knew it was amending the returns. Sloppy terminology on my part.

From a mechanical standpoint, can I amend both returns with TT2010, or do I have to load up TT2009 to amend that one (i.e. will 2010 read the 2009 tax file and allow me to produce the 1040X for it?). I got a new computer last fall, so 2009 is not loaded (or updated).

I did receive new 1099s, and the only difference is that box 3 has the return of assets value in it, and the dividend is reduced by that amount. Seems like that would be a fairly trivial amendment to make. The bigger problem will be the basis reduction because I did sell a portion of the stock, but NOT all of it. Not even most of it, actually.

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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.