Many years ago I was given shares of Sun Microsystems as a Christmas gift. Last year, they merged with or were bought out by Oracle (I don't remember which). At the beginning of this year I was sent a 1099-B form by TD Ameritrade listing the details of the transaction. I had 18 shares and I received a cash payout for all of them (i.e. I did not receive Oracle stock in return). How do I list this on my tax return this year? I don't know what form to include with my 1040 and I don't know if this is to be considered a gain or a loss since I was not the purchaser. Any help would be greatly appreciated; I can't make any sense of the IRS instructions regarding this matter.|||1040 schedule D.
You will need to do some research to figure out your cost basis. Ask the person who gave you the stock what their cost basis was at the time they purchased the stock. You will also need to know if the stock had a different FMV at the time it was given to you.
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