Stock Assistant is a valuable tool to provide a quick entry (spreadsheet style) mechanism for capital gain transactions reported on Form 1099-B.

You may quickly add new stock transactions by selecting the bottom table row. A new entry will be automatically created and you may enter all the necessary details.

Field Descriptions

• Description

  : A description of the stock transaction.

• Owner

  : The taxpayer that owns the transaction.

• Reporting Category

  : Indicates how the transaction was reported to the taxpayer. The reporting category selection will also determine the holding period for each transaction. Short-term transactions will be indicated with reporting categories A, B, and C, while long-term transactions will be indicated with reporting categories D, E, and F.

• Date Acquired

  : The date that the stock was purchased.

• Cost or Basis

  : The amount of money paid for the stock. This amount should be the total cost, not a price per share.

• Date Sold

  : The date that the stock was sold.

• Sales Proceeds

  : The amount of money received when the stock was sold. This amount should be the total amount, not an amount per share.

• Code

  : IRS approved code for any applicable adjustment to the transaction. For more information about the adjustment codes and amounts, see Capital Gain/Loss Transaction Adjustment Codes.

• Adjustment Info

  : The adjustment amount that applies to the code selected. For more information about the adjustment codes and amounts, see Capital Gain/Loss Transaction Adjustment Codes.

• Gain/Loss

  : The total amount of gain/loss after any applicable adjustments have been taken into account.

• Review

  : This link will take you to the TaxAct Q&A for the current selection.

• Delete

  : This link will delete all data and forms for any transactions checked.

• Change Owner

  : This link will change the owner for the transactions checked.

• Change Category

  : This link will change the reporting category for the transactions checked.