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. If you need help accessing Stock Assistant, go to our Forms 8949 and 1099-B - Entering Stock Transactions in Program FAQ, and follow the steps for #4 - Stock Assistant for Entering Transactions.

Data Entry Fields

• 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.
• Add'l Info (Additional Information)
  • Other Adjustment 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 Amount: 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.