Wal Mart Stock

[GSP]

My client sold Wal - Mart stock but the paper I got did not have a date it was sold only the total holdings and market value on it.
What do I put on sch D if it doesn't have a selling date? Do I even use it? I didn't get a 1099-B.
Thank you.

[Snaggletooth]

Long versus Short Term

For all practical purposes, the only thing that matters is whether this is long term or short term. If I am certain either way, I will ask the client for an approximate date and use it just for some pitiful attempt at due diligence.

If, however, the customer doesn't know, and there might be a sale within a year which could fall short- or long- term, due diligence dictates that we pursue the exact date.

[S T]

Wal Mart

I have several clients that are Wal Mart employees and have stock. We always receive a print out that lists all of the payroll deductions for investments and then whether any reinvestments or shares are sold.

The taxpayer should contact the brokerage house or broker that sold the stock for a duplicate 1099B for the sale transaction. If done through the Wal-Mart contact, HR should be able to provide a print out.

You need to determine short and long term as well as cost basis.

S