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bennychoi52
New Member

I bought 50 shares of company ABC for $10 each. In 2017, the stock splited 2 for 1 and i sold all 100 stocks and at $8 per share. How to enter to Turbo Tax?

If I bought 50 shares of ABC for $10 each and the commision fee is $5.

The stock splited 2 for 1 so I had 100 shares (50x2=100).  I sold all 100 shares at $8 each and commission fee is also $5.

How should I enter this into Turbo tax for:

# of shares (50 before split or 100 after split and at the time of selling)?

Year Acq - assume 2016

Total Proceeds:  should it be $10x50+$5 = $505 or only $500 excluding the commission fee?

Total adjusted Cost base: should it be $8 x 100 + $5 = $805 or $8x100 + $5x2 = $810?

1 Best answer

Accepted Solutions
MinhT
Expert Alumni

I bought 50 shares of company ABC for $10 each. In 2017, the stock splited 2 for 1 and i sold all 100 stocks and at $8 per share. How to enter to Turbo Tax?

You should report the shares after the split.

Number of shares: 100

Total proceeds: $8 x 100 - $5 = $795 (the commission was deducted from your proceeds).

Total adjusted cost basis: $5 x 100 + $5 = $505 (you paid the commission of $5 only once).

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1 Reply
MinhT
Expert Alumni

I bought 50 shares of company ABC for $10 each. In 2017, the stock splited 2 for 1 and i sold all 100 stocks and at $8 per share. How to enter to Turbo Tax?

You should report the shares after the split.

Number of shares: 100

Total proceeds: $8 x 100 - $5 = $795 (the commission was deducted from your proceeds).

Total adjusted cost basis: $5 x 100 + $5 = $505 (you paid the commission of $5 only once).

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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