Any tax experts out there? Need help...

[Kristi1357]

We sold some stock this year that DH had purchased through his previous employer as a payroll deduction.

Now, my question is, do we claim the entire amount of the sale under capital gains, or just what we made (the difference between what we paid for it and what we sold it for)? If it is the latter, how do we find out how much we paid initially since it was bought piece-meal? (and I did not save all of DH's old paycheck stubs, unfortunately)

Thanks for your help!
Kristi

 

[JetMom]

You just have to claim the difference between purchase price and sale price. If you have been purchasing stock for a long time and only sold part of it, you may have purchased some for lmore than what you sold for, in which case you would have a loss, not a gain and you may not have to pay any additional taxes.

 

[Kristi1357]

Thanks JetMom!

Now, I just have to find a way to figure out what he paid into the stock on a weekly basis at his old employer. We did sell all the stock he had in this company, so that makes it a *bit* easier, I suppose.

Kristi