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Question for the tax pros about selling stock


Southtown

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Hopefully someone here will know the answer to this.

My friend is trying to do her Federal taxes online. She has a very simple return (standard deduction) other than she sold some stock in 2004.

She worked at Pier One for about 10 years. She was doing the employee stock purchase plan. She sold about half of her shares in 2004. She now needs to know the "cost basis" for the shares. I checked out Irs.gov but could not figure it out.

I know they do first-in-first-out when selling stocks, so the half that she sold would have been the stocks she bought during the first five years. Since it was a payroll deduction, she was buying shares every two weeks.

Any idea how she figures out the cost basis for the shares that were sold?

If its too complicated to figure out she will just go to H&R Block.

Thanks in advance! :cheers:

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