Question

Worksheet for Tracking a Shareholder’s Stock Basis

Accepted Answer

Basis is the amount of investment in property for tax purposes. The adjusted shareholder basis will be used to figure gain or loss on the sale or disposition of shares.

To help track basis, there is a worksheet within the TaxAct program that can be used to calculate the adjusted basis. This worksheet can be kept with your yearly tax records so you can easily determine the adjusted basis when selling or disposing of your shares.

To navigate to the Worksheet for Figuring a Shareholder's Stock Basis:

Online Navigation Instructions

Sign in to your TaxAct Online return.
Click Tools down the left side to expand, then click Forms Assistant.
Click to expand the FEDERAL Forms folder, then click to expand the Worksheets folder.
Scroll down to Schedule K-1 - Shareholder's Basis Worksheet.
Select the specific Shareholder Stock Basis Worksheet needed by clicking Form.

Desktop Navigation Instructions

Start your TaxAct Desktop program, then click Forms in the top left corner.
Click to expand the Federal folder, then click to expand the Worksheets folder.
Scroll down to the worksheet Schedule K-1 - Shareholder Basis - Shareholder's Basis Worksheet
Select the specific Shareholder Stock Basis Worksheet needed.