: Can I ignore form 2439? I got my first form 2439 (Undistributed Long-term Capital Gains). After doing research, it seems that since I didn't actually get any money, the net result is a not-so-large gain after I sell the

Vote Up Vote Down   0 Reactions

Login to give Reaction!

Can I ignore form 2439?
I got my first form 2439 (Undistributed Long-term Capital Gains). After doing research, it seems that since I didn't actually get any money, the net result is a not-so-large gain after I sell the stock and do taxes (increased cost basis == less tax to pay). But, it's a fair amount of "work" to do this, so I'm thinking it's just not worth it. Can I ignore it altogether? I would not declare the "income" and I would not alter my tax basis.

The feds won't care because they already got the taxes (already paid by the company). It's the state I'm worried about (New York) because the company did not pay NY taxes on this. If I ignore it, the state won't get their money now, but would get it when I sell the stock.

(0)

Login to post a comment!