how to account for "gross proceeds"

Lori Herbison on

I have an Undetermined Transaction for Lynas Corporation ADR
(LYSDY) that our TDAM 1099 lists as "Gross proceeds". Does
anyone know how to reconcile this in the bivio tax
questionnaire?

You all must be SO busy now. I wish you the best.

Attachment:LYSDY-question.pdf

Laurie Frederiksen on

Gross proceeds are proceeds from a sale. Did that company have some sort of a reorganization where you received fractional shares?

Laurie Frederiksen
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On Tue, Mar 3, 2015 at 11:24 AM, Lori Herbison <lori.herbison@gmail.com> wrote:

I have an Undetermined Transaction for Lynas Corporation ADR
(LYSDY) that our TDAM 1099 lists as "Gross proceeds". Does
anyone know how to reconcile this in the bivio tax
questionnaire?

You all must be SO busy now. I wish you the best.

Lori Herbison on

Researched history on TDAM (attached). Looks like this
stock split 6-3-2011. Very hard to find out info about this
company as it's Australian ADR (pink sheet?) bivio tax
questionnaire asked me ex-dividend date on this $0.56
("gross proceeds").

Laurie Frederiksen on

Cash in lieu from a reorganization that is shown on the 2014 1099 would be related to something that happened in 2014. You must have the amount listed as a dividend in bivio which is why it is asking you to identify an ex-dividend date.

You need to do further research to determine why you got it so that the entry can be made correctly and reported correctly.

Laurie Frederiksen
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On Tue, Mar 3, 2015 at 1:11 PM, Lori Herbison <lori.herbison@gmail.com> wrote:

Researched history on TDAM (attached). Looks like this
stock split 6-3-2011. Very hard to find out info about this
company as it's Australian ADR (pink sheet?) bivio tax
questionnaire asked me ex-dividend date on this $0.56
("gross proceeds").

Lori Herbison on

I called TDAM about this. They said the $0.56 are proceeds
from a Rights Offering... because they are a foreign company
they sell off in their own market and send us the proceeds.

Laurie Frederiksen on

Did TDAmeritrade adjust your cost basis on your LDSDY shares when this happened?

Laurie Frederiksen
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On Tue, Mar 3, 2015 at 1:47 PM, Lori Herbison <lori.herbison@gmail.com> wrote:

I called TDAM about this. They said the $0.56 are proceeds
from a Rights Offering... because they are a foreign company
they sell off in their own market and send us the proceeds.

Lori Herbison on

TDAM says they do not adjust the cost basis or report to
IRS, and that's it's up to my tax person to determine if
it's short-term or long-term.

Laurie Frederiksen on

If you have owned the stock longer than a year, I'd recommend you edit this entry and identify it as Long Term Capital Gain Income. Otherwise, identify it as Short Term Capital gain.

For anyone else reading this thread, this could have been better handled if it had been sent to support@bivio.com. I left it here so that others can see the types of issues and complications Over the Counter (Penny) stocks and foreign companies can bring to your record keeping.

Laurie Frederiksen
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Lori Herbison on

Thank you so much, Laurie. I will be sure to send any
future request like this to the support email.