Search found 187 matches

by cas
Sun Dec 10, 2017 7:32 am
Forum: Investing - Help with Personal Investments
Topic: Fraud/401k sales and the elderly parent
Replies: 13
Views: 1109

Re: Fraud/401k sales and the elderly parent

3) The real boglehead question: given the source of the money was his 401k, the 360k he pulled out is taxable to my understanding. He lived on social security and a small amount of monthly withdrawals from taxable and 401k until this event. So please correct me if I am wrong but the 360k he pulled ...
by cas
Sat Dec 09, 2017 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: Exchanging managed funds for Indexed funds
Replies: 10
Views: 486

Re: Exchanging managed funds for Indexed funds

in a taxable vanguard account i have a mix of indexed and managed funds - i have learned in the past 5 years to only purchase index funds to avoid the yearly tax penalty that comes from managed funds - we have about $ 90,000 in profits in the managed funds plus another $ 40,000 in profits from abou...
by cas
Fri Dec 08, 2017 1:06 pm
Forum: Investing - Help with Personal Investments
Topic: Making Best Use of Being in 15% Income Tax Bracket This Year
Replies: 20
Views: 2478

Re: Making Best Use of Being in 15% Income Tax Bracket This Year

Additional complication that should be on your radar: You don't want to pay the taxes for any conversion using the conversion money itself. (Penalties for early Trad IRA withdrawal would pop into existence.) But ... if conversions cause you to end up with income over the top of the 15% bracket and i...
by cas
Fri Dec 08, 2017 12:41 pm
Forum: Investing - Help with Personal Investments
Topic: Making Best Use of Being in 15% Income Tax Bracket This Year
Replies: 20
Views: 2478

Re: Making Best Use of Being in 15% Income Tax Bracket This Year

I would like to hear more thoughts on the updated decision here: realize $13k of capital gains, convert $13k of Trad IRA money to ROTH, or convert $60k of Trad money (most of it at the 25% federal + 6% state rate) to clear out my Trad account and set up better for a Backdoor ROTH in future years? W...
by cas
Fri Dec 08, 2017 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversions: how far should I go in 2017?
Replies: 15
Views: 1246

Re: Roth conversions: how far should I go in 2017?

1year23, Medicare premiums are based on your annual income. To determine your income at age 65, they look at your tax returns for prior ages 64 and 63. Before reading cas' post, I would have said Roth conversions artificially inflate your income. Now I'm not sure. To make things even more confusing...
by cas
Thu Dec 07, 2017 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversions: how far should I go in 2017?
Replies: 15
Views: 1246

Re: Roth conversions: how far should I go in 2017?

c) In 2017, convert up to Roth contribution income phase-out, which begins at 118K of income. Re-evaluate next year. d) In 2017, convert to top of 28% bracket which is 191,650. Cons: - Lose my 2017 Roth contribution. I guess I can recharacterise he contribution into a new tIRA in 2018 .. leaving me...
by cas
Wed Dec 06, 2017 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Input on HSA Providers
Replies: 4
Views: 416

Re: Input on HSA Providers

Morningstar has a PDF comparing many of the larger plans: http://corporate1.morningstar.com/ResearchLibrary/article/813893/2017-health-savings-account-landscape/ There are also multiple threads on it here if you search. Best HSA (2017) http://www.bogleheads.org/forum/viewtopic.php?t=207051 It depen...
by cas
Wed Dec 06, 2017 6:31 am
Forum: Investing - Help with Personal Investments
Topic: Making Best Use of Being in 15% Income Tax Bracket This Year
Replies: 20
Views: 2478

Re: Making Best Use of Being in 15% Income Tax Bracket This Year

Not sure about the future tax brackets. I plan/hope to have at least $170k-200k income for about the next 10 years. As my wealth increases I could downsize for better worklife balance, or perhaps my income will continue to grow. I'm not sure at this point. Apologies if this is information you alrea...
by cas
Wed Dec 06, 2017 6:16 am
Forum: Personal Finance (Not Investing)
Topic: HSA Info
Replies: 8
Views: 674

Re: HSA Info

The Boglehead's wiki on "Health Savings Accounts" has a lot of information that you may find useful: https://www.bogleheads.org/wiki/Health_savings_account For example, the "Withdrawals" section gives details talks about using receipts in future years and about how the HSA can be used like an IRA pa...
by cas
Tue Dec 05, 2017 8:51 am
Forum: Investing - Help with Personal Investments
Topic: Medicare and retirement for high earner
Replies: 49
Views: 2281

Re: Medicare and retirement for high earner

I have worked past the retirement age in the vain hope to get the house paid off and some cash on hand. . . . <skip> . . . Yesterday I received a letter in the mail from the SSA informing me that based on my 2016 income tax filing I am going to be charged 463.00 a month for just Part 'B' because of...
by cas
Sun Dec 03, 2017 6:42 am
Forum: Personal Finance (Not Investing)
Topic: Why was my 2016 tax so low?
Replies: 19
Views: 2116

Re: Why was my 2016 tax so low?

The income I mentioned was the income found on line 43 on my return. Since dividends and capital gains are reported on lines 9 and 13, wouldn't that mean that they are already included in the number reported on line 43? The dividends are included in line 43, but your $1127 in qualified dividends ar...
by cas
Fri Dec 01, 2017 5:57 am
Forum: Investing - Help with Personal Investments
Topic: Roth conversions prior and after required minimum distributions.
Replies: 9
Views: 786

Re: Roth conversions prior and after required minimum distributions.

I want to stay in the 15% tax bracket so I estimate other income and convert what I can to bring taxable income up to about 75k where the 25% bracket begins. I convert mine first since I'm older. I think it is a good plan but someone here may think of something that I have overlooked. Thanks for th...
by cas
Thu Nov 30, 2017 10:39 am
Forum: Investing - Help with Personal Investments
Topic: Please help with this cost basis nightmare!
Replies: 22
Views: 1720

Re: Please help with this cost basis nightmare!

Either way, since she'll basically be paying zero tax on the majority of this anyway, I think any of these approaches as long as they're somewhat logical that we made an attempt, I would think should be just fine. The biggest side effect I see of a really low-ball estimate on the cost basis is that...
by cas
Thu Nov 30, 2017 9:42 am
Forum: Investing - Help with Personal Investments
Topic: Please help with this cost basis nightmare!
Replies: 22
Views: 1720

Re: Please help with this cost basis nightmare!

No idea what to do beyond that [pre-2002 when availablity of tax return records ceases], hoping to figure out a way to estimate, or will be stuck using $0 as the cost basis I think you can do better than $0. At the very worst, you can determine the very lowest price paid for DTE stock between 1/1/1...
by cas
Thu Nov 30, 2017 8:38 am
Forum: Investing - Help with Personal Investments
Topic: Please help with this cost basis nightmare!
Replies: 22
Views: 1720

Re: Please help with this cost basis nightmare!

Now, maybe I will try to contact them and see how I can get a hold of the amount of dividends that where paid out to her annually prior to 2002 when the records go away. If I can find that, I could split into 4 chunks, estimate based on all of the previous dividends being paid on the 15th of the mo...
by cas
Thu Nov 30, 2017 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Taxes
Replies: 6
Views: 825

Re: Social Security Taxes

Another article explaining it is the Boglehead's wiki article "Taxation of Social Security Benefits": https://www.bogleheads.org/wiki/Taxatio ... y_benefits

It has some pictures (graphs), if that helps the thorough written explanation in the Kitces article click in.
by cas
Thu Nov 30, 2017 3:56 am
Forum: Investing - Help with Personal Investments
Topic: Help me help my mom -- moving taxable account from Raymond James to Vanguard
Replies: 7
Views: 700

Re: Help me help my mom -- moving taxable account from Raymond James to Vanguard

I had never thought much about taxable accounts or retirement portfolios, so I could use some help as I try to learn this stuff. . . . She also wants to sell 200k worth of stocks in the Raymond James account and move them to CDs [/u]. Leaving aside the family dynamics issues involved with rearrangi...
by cas
Thu Nov 30, 2017 3:18 am
Forum: Investing - Help with Personal Investments
Topic: Please help with this cost basis nightmare!
Replies: 22
Views: 1720

Re: Please help with this cost basis nightmare!

Here is a look at what I came up with as a way to estimate the cost basis on the shares that I can find records for. Basically I researched the median share price for the day that her dividend payment was made, and calculated based on that share price and the dividend amount, the number of shares t...
by cas
Wed Nov 29, 2017 2:22 pm
Forum: Investing - Help with Personal Investments
Topic: Please help with this cost basis nightmare!
Replies: 22
Views: 1720

Re: Please help with this cost basis nightmare!

This is what's fuzzy for me... Can I just say for example: Selling shares from this big lumped tax lot with a single transaction in Q4 2017 Choosing to assume that all shares obtained through DRIP from Jan 2007 through Jan 2012 are the ones sold in this transaction This yields a total of 308 shares...
by cas
Wed Nov 29, 2017 1:47 pm
Forum: Investing - Help with Personal Investments
Topic: Please help with this cost basis nightmare!
Replies: 22
Views: 1720

Re: Please help with this cost basis nightmare!

I can only find Yahoo historical data back to 1/1/1970 (she would've been 19) so I'm guessing it was not long after then that the account was opened. BTW, I think the 1/1/1970 limit might be a Yahoo thing for all stocks. DTE may well have been alive and kicking and able to be purchased before then....
by cas
Wed Nov 29, 2017 1:43 pm
Forum: Investing - Help with Personal Investments
Topic: Please help with this cost basis nightmare!
Replies: 22
Views: 1720

Re: Please help with this cost basis nightmare!

She has copies of her tax returns dating back to 2002, so if this methodology makes sense I could probably continue it back through 2002 based on her statements <skip> What should I do when the records run out prior to 2006? Is there a mathematical way to extrapolate, or another means of making a r...
by cas
Wed Nov 29, 2017 10:04 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

I goofed...it only goes back to 2006 :( But at least there's 5 years of info there...better than nothing. BTW ... print off that screen (especially the earliest 2006 entry) now. I'm guessing they are keeping something like a constant 10 years of back data available online, and the earliest line(s) ...
by cas
Wed Nov 29, 2017 9:45 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

I need to go somewhere, but 2 quick notes: First... That "Dividend Proceeds" table that goes back to 1996 is PURE GOLD! That "Gross Amount" (see note) column shows the cost basis for every tax lot back to 1996! And, because this a compounding situation - every quarterly dividend payout buys you more...
by cas
Wed Nov 29, 2017 9:04 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

This account was started by my grandparents for my mom when she was a teenager...possibly even in grade school...she doesn't really know. . . . It sounds like my grandparents just started an investment account for my mom...in the 60s probably...and it just has grown untouched and reinvested these d...
by cas
Wed Nov 29, 2017 8:14 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

What do you get if you add up the "Adjusted Cost Basis" column for both pages? That would be a good and supportable minimum guess at your mom's cost basis. 3699.14 The vast majority of the shares have 0.00. [Note: I was typing this at the same time you were typing what you found out about your gran...
by cas
Tue Nov 28, 2017 4:18 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

From the DRIP Prospectus p. 14 (Re: getting statements from prior years or asking WF to research cost basis for the non-covered shares): Duplicate Statement & Research Fees Current Year Duplicate Statement No Fee Prior Year Duplicate Statement (per year) $15.00 Research Fee Call for fee information ...
by cas
Tue Nov 28, 2017 3:42 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

Third ... the distinction between "covered" and "non covered" shares is important. "Non-covered shares": Prior to 2011, individuals were expected to track their own tax lots and cost basis for stock. Once the computer age hit, if a person had a brokerage account, the brokerage would often do it for ...
by cas
Tue Nov 28, 2017 2:57 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

One more thing on "Plan": Those 6 lines with "PLAN" in the Share Type column show a holding of 0 shares because they were transferred out into the DRS Share Type in March 2012. They *now* (after the transfer) have zero shares held in PLAN. But before the transfer, the non-zero # of shares you see in...
by cas
Tue Nov 28, 2017 2:48 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

Second ... You (your Mom, but I'll be saying "you") *currently* have 0 shares held in physical paper certificate form. You *currently* have 1326 shares held in electronic form (DRS, according to google is... The Direct Registration System (“DRS”) is a service offering by the Depository Trust Company...
by cas
Tue Nov 28, 2017 2:21 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

(I can see the image now. Thanks.) Unfortunately, this looks like it is going to be more complicated than I would wish for you. I think I'll break it up into multiple posts. This are initial thoughts, and I could be wrong on any of this (anyone else with insight PLEASE chime in!), but this is how I'...
by cas
Tue Nov 28, 2017 9:13 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

On the trust date: the date I'm looking for is in the WF account name. You told us the whole WF account title at some point ... I think in your first thread where we were trying to figure out the nature of the trust. It is something like "My_mom revocable trust by my_mom DTD some_date" What is in th...
by cas
Tue Nov 28, 2017 8:05 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

You've probably noticed this already, but your screen shot didn't post right. (It is complaining about a third party hosting service and not showing the screen shot.) I don't know how to post a screen shot on bogleheads, but I think I've seen other people discussing which third party host sites work...
by cas
Mon Nov 27, 2017 7:24 pm
Forum: Investing - Help with Personal Investments
Topic: In-Retirement: Move 401k & SEP-IRA to MM, then to Index Funds via dollar cost averaging?
Replies: 49
Views: 2033

Re: In-Retirement: Move 401k & SEP-IRA to MM, then to Index Funds via dollar cost averaging?

- Questions 5: Her local bank offers a free financial planning service with a CFP, no obligations. I think she should take advantage of this to get another point of view on managing investments in-retirement. What do you think? In my experience, "free" advisors at banks are most assuredly NOT free....
by cas
Mon Nov 27, 2017 4:48 pm
Forum: Investing - Help with Personal Investments
Topic: In-Retirement: Move 401k & SEP-IRA to MM, then to Index Funds via dollar cost averaging?
Replies: 49
Views: 2033

Re: In-Retirement: Move 401k & SEP-IRA to MM, then to Index Funds via dollar cost averaging?

- Questions 5: Her local bank offers a free financial planning service with a CFP, no obligations. I think she should take advantage of this to get another point of view on managing investments in-retirement. What do you think? In my experience, "free" advisors at banks are most assuredly NOT free....
by cas
Mon Nov 27, 2017 4:32 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

Something seems odd here (lucky you): all stock shares purchased after 1/1/2011 are considered "covered shares" and, upon sale, the brokerage is required to report the cost basis on the 1099-B to the IRS. (Before then, brokers were not required to report cost basis to the IRS.) (e.g. see https://ttl...
by cas
Mon Nov 27, 2017 3:48 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

Ah, so now you get an even deeper introduction to financial forensics. (I tend to my parents' portfolio and taxes. My father, who now has dementia, kept excellent records. But, still, I am very familiar with financial forensics. In fact, I am sitting in front of my computer engaging in financial for...
by cas
Mon Nov 27, 2017 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Amend 2015 taxes based on a new K-1 two years later?
Replies: 35
Views: 1775

Re: Amend 2015 taxes based on a new K-1 two years later?

In part III of the K-1 there are entries in the following boxes: Box 1: interest income - 352 Box 5: other portfolio and nonbusiness income: 6,794 Box 14: E - 352 STMT Box 14: H - (6794) STMT On the attached statements, Code E references interest income of 352 and Code H has some calculations but c...
by cas
Sun Nov 26, 2017 9:23 am
Forum: Personal Consumer Issues
Topic: The annoying insistence on frivolous credit checks/pulls
Replies: 35
Views: 3180

Re: The annoying insistence on frivolous credit checks/pulls

Isn't there a fee each time you lock and unlock your credit? Fees are governed by state law, so it depends what state you live in and, in some states, how old you are. (E.g. in some states senior citizens and/or minors may have fees waived. In some states, everyone has fees waived. In some states, ...
by cas
Sun Nov 26, 2017 8:45 am
Forum: Personal Consumer Issues
Topic: The annoying insistence on frivolous credit checks/pulls
Replies: 35
Views: 3180

Re: The annoying insistence on frivolous credit checks/pulls

3) An application for a savings account at an online bank was placed on hold because a credit check did not pass. This seems to be the most annoying of them all, because I can't understand how opening a savings account requires credit history. It's not like I'll be delinquent on paying them.. becau...
by cas
Wed Nov 22, 2017 12:02 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

2. Set her DTE account to reinvest the QDIs starting in 2018 since the amounts vary...this way for 2018 projection we don't have to worry about including them when deciding how much DTE stock to sell. This is a new thought...but seems like a good idea as I'm typing this... When you say "we don't ha...
by cas
Wed Nov 22, 2017 10:02 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

3. Sell the $25k or whatever of the stock (calculate the proper amount minus the DTE QDIs she's received for 2017 YTD. 4. Deposit $1k or so into her savings account to "replace" the Q4 dividend she now won't be receiving from Vanguard IRA 5. Open a taxable account at Vanguard and invest all of the ...
by cas
Wed Nov 22, 2017 4:12 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

Sell the DTE ASAP, looks like it's at an all-time high. Not sure if your comment comes with a hint of sarcasm or not...but part of me thought of this. Since the topic of selling all the DTE has been raised, let me throw out this little tidbit: If your mother's Adjusted Gross Income (line 37 on the ...
by cas
Tue Nov 21, 2017 7:30 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

Her actual tax was calculated correctly using the worksheet, and it was $0. Good. I was worried about an accountant making that type of error. Also ... if she owed $0 in tax last year, I think she is successfully in a "safe harbor" on federal estimated tax for this year. One of the "safe harbors" i...
by cas
Tue Nov 21, 2017 3:27 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 53
Views: 2466

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

To start, here is a summary of her 2016 tax return - fairly straightforward: 9a/b: - $3969 - (her ordinary dividend income - qualified dividends from DTE stock) 13: - variable - (the amount of LTCGs she would incur from selling off DTE stock) 15b: - $5710 - (IRA distributions - dividends - from her...
by cas
Sat Nov 18, 2017 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Capital gains timing
Replies: 11
Views: 1013

Re: Capital gains timing

Let's see... $153,100 (MFJ 2017) lower boundary of the 28% bracket + $12,000 in LTCG = $175,100. If you want to contribute to a Roth IRA, that is still below the income level where Roth eligibility starts to phase out ($186,000 (MFJ 2017)), but it is close enough that you might want to be relatively...
by cas
Thu Nov 16, 2017 4:14 pm
Forum: Investing - Help with Personal Investments
Topic: Cost basis question about Vanguard's covered/uncovered mutual fund shares
Replies: 28
Views: 1449

Re: Cost basis question about Vanguard's covered/uncovered mutual fund shares

I also noticed that even for the "covered" shares, there was no record shown of when I bought and sold the shares and at what amounts as I typically see with funds using the specified share method. (I assume some information can be found looking at transaction history). <skip> I never kept any buy/...
by cas
Thu Nov 16, 2017 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3755

Re: Advice needed for parent's finances

Would it make sense at all for her to convert small chunks of this tIRA to a Roth because she's in such a low tax bracket? After all, her eventual forced distributions from the tIRA at 70 1/2 will increase her regular income by a lot. Essentially from now until then it could remain at 0 + small amo...
by cas
Thu Nov 16, 2017 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3755

Re: Advice needed for parent's finances

My question is, how does one sift through the bucket and determine "which" shares of the stock are being sold if they weren't all bought at the same cost basis price? For example, purchase 100 shares of a stock at $50/share. A year later purchase another 100 shares at $100/share. Hold for 5 years a...
by cas
Thu Nov 16, 2017 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Gifting of stock in error
Replies: 8
Views: 1049

Re: Gifting of stock in error

If Schwab doesn't get it fixed to the OP's satisfaction, is this a case (given that the situation is documented with letters on both sides) where the OP could legitimately report (upon sale) a different cost basis (i.e. the original pre-gift one) on Schedule D/Form 8949 than is in Schwab's records? ...
by cas
Thu Nov 16, 2017 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Gifting of stock in error
Replies: 8
Views: 1049

Re: Gifting of stock in error

(Sorry, flight, this post doesn't help you at all. But it might clarify some things for anyone besides Raryn and me who were confused.) I don't get it. A living individual gifting stocks to another living individual shouldn't change their cost basis. It certainly wouldn't if they were appreciated st...