THIS WEBSITE INCLUDES GENERAL INFORMATION & THE OPINIONS OF CHRISTOPHER S. MULVANEY.
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A common letter from the IRS involves stock sales in which the cost-basis for a stock sale was not reported on the return and the IRS imputed a cost-basis of zero. A typical situation would be a Google employee who sells stock the day it vests and assumes that the brokerage will report the cost-basis to the IRS so the employee doesn’t report it. An IRS letter will demand several thousand dollars in tax because the entire sale price is counted as gain. There was no gain, so there is no tax due. Reporting the cost-basis of all stock sales yourself is a best practice.
Christopher S. Mulvaney’s Mission:
To Always Be a Human Being First,
and My Role Second.
To First, Do No Harm, then to provide the best legal outcome,
smoothest process, best value, and to make a positive difference
in the life of every Client.
Christopher S. Mulvaney’s Mantra:
May I be filled with loving kindness for all life.
May I be safe from dangers within and without.
May I be healthy in body, mind, socially, and spiritually.
May I be at ease and happy, doing good in the world.
For more information about my practice in Bellevue, Washington, please consult my Blog.
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leave your own Yelp review at this link.
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Mulvaney Law Offices, PLLC is located in Bellevue, Washington, representing estate planning & probate, chapter 7 and chapter 13 bankruptcy, and real estate transactions clients in:
Seattle, Tacoma, Everett, Bellevue, Redmond, Renton, Issaquah,
Sammamish, Maple Valley, Burien, SeaTac, and throughout King,
Snohomish, and Pierce counties.