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Posted by FreddieFarkle on March 28, 2008, 5:40 pm
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I have a TUGMA account that I established for my son to pay for some
of college. He is in fact now not a minor, and I pulled out $3500
last year as a drop in the bucket for his over-priced education. In
completing Schedule D, I have no idea what the "basis" is in the
stock, and there is certainly no help from the Form 1099-B. And I
also got 2 different 1099-DIVs (not sure why I got 2) and there is of
course a "Total Capital Gains Distribution" number wheich as I
understand would go on line 13 of th Part II of the Schedule D. Now,
in this transaction I will show (on my son's return) $321 in "Total
Capital Gain Distributions" on Schedule D. Why in the world do I need
to show anything on line 8(f) in gain? And if so, who in the world do
I calculate that figure? Thanks.
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