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    imadthegreat's Avatar
    imadthegreat Posts: 54, Reputation: 1
    Junior Member
    		  
    #1

    Sep 22, 2013, 12:39 PM
    adjusted tax basis
    Hi

    I have a very simple question. My last company was acquired and I am submitting a letter of transmittal so I get proceeds from my stock certificate I had. There is a column for adjusted tax basis and long/short term capital gain. I paid little over $2800 for my shares, so I think that is my cost basis as I didn't incurred any additional cost on my stocks (mailing charges at most may be). And my short term capital gain (since shares were held less than a year) should be number of shares x sell price - total adjusted cost basis (cost price). Is that correct?

    Thanks
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Sep 22, 2013, 02:10 PM
    Yes, that is correct.
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