Stock Purchase Plan sale

[Clever Username]

First off: it's 2/8. Is Smith Barney slow with their tax forms or did I loose it?

My wife's company has a stock purchase plan at a 15% discount purchase.
We've accumulated for a while and liquidated a bunch in 2010.
I've got more records than most, but not a full set of documents.

It's also a bear to set up online access, so I don't have an account to look stuff up.

When calculating my gains, am I right that I use the stepped up market rate when purchased because I've already been taxed on the 15% discount as regular W2 income?

[commentator]

If the discount was included in your wife's W-2 income, then, yes, her basis in the stock is the FMVs on the purchase dates.

[ShoreEA]

Because the government has increased regulations, they now allow brokerage firms until Feb 15 to get their forms in the mail. So SmithBarney is not slow, just typical.

[Clever Username]

Good to hear. I prefer late over lost.

[chiver78]

my company has the same program available for employees. we have an internal department that sends out the same information as the broker, but on company letterhead. I've used both versions at different times to get my taxes done. could your wife ask at work if the same is available to her?

[Clever Username]

Well Golllllly,
Look who sent me a Valentine's Day card.
At least it was postmarked on 2/14. I'm doubting that first class mail takes 9 days.
Glad I waited, their figures were slightly different than mine. It'd be annoying to get a tax correction letter again.

Oddly, they attached a nice account transaction spreadsheet, but it only lists the discounted purchase price, because it's already listed on the W2s, I've already paid the tax on the discount. Good thing I've got my own spreadsheet for that.