Cash received for partial share of stock

[kubb528808]

My company issues $15 check for partial share in stock from a stock split. Do I need form 8949 to report this?

[TomYoung · Accepted solution]

Well, yes it should be reported and to report it the absolutely "correct way" would mean upgrading to Premier as Premier is the first version up the cost chain that can handle the reporting of sale of securities, which means it prepares Form 8949 and Schedule D based on your input of the sale.

But, for 15 bucks - if this is your only security sale - I might opt to simply report it as "Other income" on line 21 of Form 1040.  Your taxable income would be correctly reported and, if anything, you might be "over taxing" yourself if the stock is a long term holding.  But "over taxing" yourself on $15 costs you less than upgrading.

Tom Young