This is likely too complicated a question to get a complete answer here, but if somebody can point me to a 'selling stock for dummies' or something sight. I appreciate it.
When we got married some 30 plus years ago. My dad gave us four thousand dollars and a t and t stock as a gift. It is spun off stuff left and right over the years. I believe some of the stocks that spun off have spun off themselves.
Recently we received spun off warner brothers stock and I decided to sell it. Turbotax was very nice and imported the info but it's asking me to review things. One question it asks is if I received the stock as a gift and if so , it starts o ask me all sorts of other questions about a cost basis that i'm not prepared to answer.
Would this Warner brothers spin off be considered a gift since it was a spin-off of another stock yhat spun off of the original at&t gift?
Maybe I need an accountant but I hate to do so considering the sale of the stock was a wopping "$200 and the 1099b indicates I had eighty seven dollar loss.
Thoughts?
