Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
jellis002
New Member

Can anyone share with me a Spreadsheet for 1099B reported transactions for EMC/DELL merger?

Received a 1099B reporting two transactions resulting from the EMC/DELL merger.]

1) 9/7./16...200.00 shares of EMC... Proceeds $2405.00."various" date acquired...no cost basis

2) 9/20//16....0.146 shares  of DVMT sold...proceeds 7.07....N/A date acquired...no cost basis

I understand that to derive the values needed for a Form 8949 in a tax return it is very complicated and requires a spreadsheet to do it.  Does anyone have such a spreadsheet that they will share with me??

EDIT/CORRECTION:

I am attaching a spreadsheet in which I have tried to work out the total cost basis and total proceeds of the EMC/DELL merger.  Please tell me if you think it is correct or where I went wrong.

6 Replies
TomYoung
Level 13

Can anyone share with me a Spreadsheet for 1099B reported transactions for EMC/DELL merger?

The derived basis to use depends heavily on the ACTUAL basis of the EMC shares tendered.  Do you know your actual basis?
ratings image
jellis002
New Member

Can anyone share with me a Spreadsheet for 1099B reported transactions for EMC/DELL merger?

I only had one lot of 100 EMC shares (long term) at time of merger, whose basis was $1,104.95 or $11.0495 per share.   Can you advise me what basis to use for (1) the 86.77% of shares in the Section 351 exchange, (2)  the 13.23% of shares in the redemption, and (3) the partial DVMT share sold later on 9/20/16?   I think I have already figured out the "proceeds" for these 3 cases per Form 8937 as (1) $2,206.56 LT, (2) $41.33 LT, and (3) $7.07 ST.  Do those sound correct??
If you can give me cost basis for each of these 3 cases I can subtract them from each of the "proceeds" and then generate the Form 8949 for the 1099B.
jellis002
New Member

Can anyone share with me a Spreadsheet for 1099B reported transactions for EMC/DELL merger?

Correction to "proceeds": (1) $2,206.56 LT, (2) 388.00 LT, (3) $7.07 ST
TomYoung
Level 13

Can anyone share with me a Spreadsheet for 1099B reported transactions for EMC/DELL merger?

Did you read https://ttlc.intuit.com/questions/3405510 ?

Your proceeds for the Sec 351 calc is 100 x $20.17 (cash) + 100 x .11146 x $47.20 (stock) for total proceeds of $2,543.09.  You subtract basis of $1,104.95 x .8677 = $958.77 for a "real" gain of $1,584.33.  Since that amount is less that the cash received that's the gain you report.  Most brokers seem to report "proceeds" for these transactions as only the cash received or $2,017.00 in this case so your DERIVED basis is $432.67 to come up with the $1,584.33 gain.

Your proceeds for the Redemption calc is $3.88 per share of $388.00.  You subtract from that  $1,104.95 x .1323 (remaining basis) for a gain of $241.82.

You can combine these and report proceeds of $2,405.00 and basis of $578.86.

Your basis in the 11.146 shares received is $958.765 - $2,017.00 + $1,584.33 = $526.09 so you partial share has a basis of $6.89

Tom Young

jellis002
New Member

Can anyone share with me a Spreadsheet for 1099B reported transactions for EMC/DELL merger?

Thanks Tom, but in the 351 proceeds calc you used $24.05 as the value of each .11146 share of DVMT stock received. whereas the Form 8937 Line 16 says the value is $5.26.  There was also a math error in your calc on the proceeds for Sec 351.  Therefore, I think the following corrections are required:  
       100 x $20.17+100 x .11146 x $5.66 = $2,075.63.... not $2,543.09 as you listed.
This correction ripples through your other calcs as follows for new numbers:
   1) Real gain= $2,075.63 - $1,104.95 x .8677 = $1.116.86...not the $1,584.33 you listed.
   2) Redemption Gain =  $388.00 - $1,104.95 x .1323 = $241.82..as you also listed.
   3  11.146 DVMT stock basis = $958.765 - $2,017.00 + $1,116.86 = $58.628...not the $526.09 you listed.
   4) Therefore, Partial share DVMT stock basis = 0.146 X $58.628 / 11.146 = $0.77....not the $6.89 you listed.
Do you concur with these corrections?  If so I am ready to finish my tax return.  If not, please tell me where I went wrong.
Thanks so much for your help on this, Tom.  I hope it will also help others who have to report EMC/DELL merger on their taxes.  BTW i corrected my spreadsheet to use your calculation formulas so if anyone wants it  I can provide it to them to use on their own case.
John Ellis
TomYoung
Level 13

Can anyone share with me a Spreadsheet for 1099B reported transactions for EMC/DELL merger?

@jellis00

I'm away from my computer but you are correct. Obviously I picked up the wrong number - total cash received - and typed that in.  But the proceeds number is CORRECT.  The $5.26 is per FRACTION of a share so proceeds = 100 x $20.17 + 100 x $5.26 = $2,543.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.62m
Discussions

Manage cookies
v