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stock through the program for a total cost of $5,130.94. On
January 27, 1992, petitioner sold .541 shares of IBM stock held
through the program.
On May 27, 1997, the IBM stock in the program split, and 46
shares of petitioner’s IBM stock became 325 shares. Petitioner
bought an additional 10.895 shares through the program for a
total cost of $1,090.43. After selling .895 shares, petitioner
had 335 shares of IBM stock (represented by stock certificate No.
156716) for which he had a basis of $6,133.78 ($6,221.37 paid
minus $87.59 basis in the .541 and .895 shares sold).
Petitioner maintained an investment account at Charles
Schwab & Co. (Schwab account). On August 1, 1997, petitioner
held 110 shares of IBM stock in that account. Petitioner’s basis
in those shares is not in the record.
Petitioner bought IBM stock in 1997 and 1998 as follows:
Date No. of shares Total price
9/11/97 1.2275 $22.00
10/28/97 100 8,944.00
12/10/97 1.2145 22.05
1/12/98 100 9,831.50
1/12/98 100 9,844.00
2/xx/98 100 10,229.95
3/11/98 1.6311 62.09
6/11/98 11.1112 130.70
6/11/98 500 58,529.95
6/16/98 500 55,967.45
9/11/98 11.6355 204.64
1 Petitioner acquired these shares with reinvested
dividends.
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Last modified: May 25, 2011