How do you know the Grant Date of a Stock you sold?

Question

We buy stocks thru my husbands company and 2006 we sold the stock, I am trying to do our taxes thru Turbo Tax and it keeps asking for the grant date of the stock. I am not sure what this means? I have always used Turbo Tax and I am now stuck because of this stock sale, I can not figure it out. I do not really want to pay someone to do my otherwise easy taxes. Thanks.

You guys are right it is a stock option. When I was using Turbo Tax it says Espp but asked for grant date and purchased date, I think that is why I am so confused. I just hope I am doing it right. Thanks everyone!

Answer 1

"Grant date" is not the usual term for the purchase date of stock. This suggests to me that you're answering a question about stock options.

In any case, I think what you're asking is "what is the purchase date?" You husband, I'm sure, kept records. If the stocks were purchased automatically through a payroll deduction, the information is available on his pay stubs.

However, the date the amount was deducted may not be the purchase date. For this, he'll need to broker's statements. If he hasn't kept copies, he can request them (for a small fee) from the broker.

If these were repeated purchases, you do not need to specify every purchase. You can simply put "various" as the purchase date. However, in doing so, you'll be paying the "short term" gain rate, which is higher than the "long term" rate. If he has shares that were held for over a year, it's best to create two sets: held for under a year (mark as "various") and held over a year (use the most recent purchase date). Then, split up the sale to correspond to the number of shares in each set.

Hope this helps. Double check that you'll filling out stock and not options. If you're using Turbo Taxes "employee stock purchase plan (ESPP)" section, it should provide help to answering the questions. Use TT's online help.

Answer 2

You should have paperwork from the years you purchased the stock (or rewarded the stock). If not, if the stock grants through your husbands employer is handled through HR you should be able to get that info from them. Will it accept "various" ?
http://www.irs.gov/irb/2004-16_IRB/ar10.html. Hope this helps.

good luck & bless

Answer 3

It sounds like it's a stock option that he exercised. The grant date is on the stock option award paperwork that he received from his employer.

Answer 4

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