Question: when preparing a return for a taxpayer , what is the appropriate course of action if the taxpayers basis for shares of stock is reported
when preparing a return for a taxpayer what is the appropriate course of action if the taxpayers basis for shares of stock is reported as $ on form B or subsitute statement. A Ask the taxpayer for clarifications and conducted further research as needed B Report the entire amount of the sales proceeds as a capatal gain directly on schedule D no additional research is required. C Refuse to prepare the return until the taxpayer obtains a corrected form B or subsitute statement D Report the basis as $ on the form and or schedule D to avoid a mismatch between the tax return and the income information reported to tje IRS no additional research is required
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