@mjc517 wrote:
Thanks for your response. I have more of these stocks, so I'll probably have losses for the rest of my life!
Another question: I've looked at form 8949. Can I just put 273 shares of US West at the price on 1/1/1984, the date of divestiture, then fill in the amount of the proceeds from sale of Lumen? Seems like they're going to want an explanation.
I really appreciate this help.
Mary
Just follow the form and instructions, or let turbotax handle it, the program will ask all the right questions. You just enter the date, proceeds, and other requested information. Don't attach proof not asked for.
https://www.irs.gov/forms-pubs/about-form-8949
I assume you will sell using a broker (and you will get a 1099-B) but that since these shares were purchased before 2010, the broker will not report the basis. So you will check box B in part 1 of form 8949. Report what you sold (Lumen or LUMN), not what you originally bought.
If you have the purchase details, and you know how the shares tracked, you can report each purchase separately. You can also choose to list the purchase date as "various" and enter the total price paid.
If you need help with the prices and basis, you may want to discuss with a stockbroker or financial advisor to help you.
