sold stock redieved 1099 form, can i just pay the fed. tax without filling out all the who what when.?

Question

my brokage accout was liquidated sold 9 different stocks. the stocks were purchased between 1999 and 2003 had name changes and rev. splits. i want to make this simple and just pay the fed tax. ??/
how ??

Answer 1

no. just do schedule d, it's not that hard. you're just comparing for each stock how much you paid and how much you received.

Answer 2

Simple is not in the IRS vocabulary. You need to fill out a schedule D (sale of stocks and bonds). It asks for the names of the stocks you sold, how much you sold them for, when you sold them, how much you paid for them, and when you bought them. Then you need to total up the winners and losers based on how long you held them since older ones are taxed less than newer ones. Once you have that you can send in a 1040 (not the short form because of those stocks and bonds). On the 1040 you need to put the stock results and any other income, take a standard deduction for yourself, and send it in with the amount owed.

Sometimes simple is not very simple.