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Posted by Seth Breidbart on April 24, 2006, 11:33 am
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> I purchased one share of stock from OneShare.com as a
> novelty.
>
> Stock $27
> Transfer fee $31.01
> Shipping $7.99
> Total $66
>
> My question is what is my cost basis?
It looks like $66.
> If I ever did sell it how much would the gain have to be
> before it has to be reported?
The sale must be reported, the amount of gain affects the
amount of tax you owe, but not the requirement to report.
(If your total income is low enough you might not have to
file at all.)
> If I receive dividends, at what point does it
> have to be reported?
If you have to file, all dividends have to be reported.
Seth
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