Stock Assistant is a valuable tool to provide a quick entry (spreadsheet style) mechanism for capital gain transactions reported on Form 1099-B Proceeds From Broker and Barter Exchange Transactions.
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.
- 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.
If you need to delete a transaction or modify multiple transactions, check the box(es) for the transaction(s) under Select All/Clear All and click the appropriate link below:
- 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.
Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.