I’m a notorious procrastinator. I have been all my life. It will come as no surprise that much of yesterday was spent doing taxes, even though we’re expecting to get a refund. This is actually a step up from the last two years, when I did them on the very same day they were due.<\/p>\n
I thought I had everything ready, but when I was doing our stocks (Steve did a little trading last year) I hit a snag. I had all the basis points and assorted financial junk prepared, but there was a new situation I hadn’t encountered before.<\/p>\n
One of the stocks he purchased was in a company which was later bought by another company. Our stocks in company A were converted to a lesser number of stocks in comapny B. Therefore, on our brokerage statement, it looks like we sold about a hundred shares of stock A for $0, then purchased about 50 shares of company B a few days later for $0, before finally selling it about a month later for a reasonable price (albeit at a small loss). I am baffled as to how to record this.<\/p>\n
I think maybe it would classify as a wash sale, since it looks like we took a major loss on stock A then bought stock in a substantially similar company, stock B. But it still looks odd, and frankly, while we have nothing to hide, I don’t like the thought of getting a letter from the gubmint calling us in for questions.<\/p>\n
Add to this the fact that the company he works for was bought last year by another company, which makes all the stock purchase stuff a little crazy, although I think I can still manage it.<\/p>\n
I think the best solution is just to never, ever buy stock in anything ever again. And now, back to the tax mines. Le sigh.<\/p>\n","protected":false},"excerpt":{"rendered":"
I’m a notorious procrastinator. I have been all my life. It will come as no surprise that much of yesterday was spent doing taxes, even though we’re expecting to get a refund. This is actually a step up from the last two years, when I did them on the very same day they were due. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.kissmyknits.com\/index.php?rest_route=\/wp\/v2\/posts\/1175"}],"collection":[{"href":"https:\/\/www.kissmyknits.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kissmyknits.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kissmyknits.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kissmyknits.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1175"}],"version-history":[{"count":0,"href":"https:\/\/www.kissmyknits.com\/index.php?rest_route=\/wp\/v2\/posts\/1175\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.kissmyknits.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kissmyknits.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kissmyknits.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}