Tax Reducers Organizer - Asset Sales/Bad Debts

If you sold any stocks, bonds, real estate, business equipment or other assets OR if you had a personal bad debt loss (someone owed you money and it became uncollectible during this tax year), then you need to provide the following information as appropriate:

Installment Sales

For any of the following transactions, if you are receiving the payment amounts in installments, provide the following additional information:

- Total sale amount

- Initial payment amount

- Prior year payment total

- Amount received this tax year

Sales of Stocks & Bonds

For EACH transaction:

- Date of Sale

- Number of Shares

- Net selling price after commissions

- Date of Purchase

- Total Cost of Purchase including commissions

- Was this a result of exercise of a qualified stock option?

Note that if you bought the stock several different times, the sale is assumed to be of the oldest purchase.

Sales of Real Estate (including your personal residence)

- COPY of Escrow papers from Purchase

- COPY of FF 2119 from the most recent prior sale of a residence if this is a personal residence sale

- Costs of improvements to property (not repairs)

- Costs of landscaping of property (not maintenance)

- COPY of Escrow papers from Sale

- Fixing up expenses related to sale

Sales of other Assets (you cannot take a loss on the sale of a personal asset)

For EACH transaction:

- Description of asset and business purpose (if any)

- Date of sale

- Date of purchase

- Sales amount

- Cost of sale (broker fee, etc.)

- Purchase amount

- Prior depreciation taken (if any)

Personal Bad Debt Losses

For EACH Bad Debt:

- Name and address of defaulting individual or company

- Relationship, if any, of the defaulting party to you

- What efforts have been made to collect this debt?

- What happened this year to make the debt uncollectible?

- Date debt was incurred

- Nature of the debt (loan, judgement, etc.)

- Amount of original debt

- Interest rate (if any)

- Amount of Interest payments received

- Amount of Principal payments received