Stock commission is greater than proceeds of stock sale.

I recently sold 2000 shares of stock for $0.0001 per share.  Gross proceeds 
were $0.20.  Commissions for the sale were $29.95.  Net proceeds were 
-$29.75.  I tried to enter this into Money 2004 and it will not allow 
negative proceeds of a stock sale.  How should I record this sale?
0
go3049 (1)
1/11/2005 4:03:01 AM
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In microsoft.public.money, go3049 wrote:

>I recently sold 2000 shares of stock for $0.0001 per share.  Gross proceeds 
>were $0.20.  Commissions for the sale were $29.95.  Net proceeds were 
>-$29.75.  I tried to enter this into Money 2004 and it will not allow 
>negative proceeds of a stock sale.  How should I record this sale?

Seriously, many brokers will reduce the commission so that you get
$0.01 after commissions, if you ask.

However Money can't handle the negative commission. Work around it
by adding the commission to the basis manually and entering a 0
commission. Same tax, tho it is not what the instructions call for.

I would try that first suggestion.



0
via_newsgroup (13113)
1/11/2005 11:17:02 PM
I enetered the commission as a separate transaction
against the stock (as an "expense of sale") for a similar
transaction. Everything worked out ok ...

-- 

  ... Hank

http://home.earthlink.net/~horedson
http://home.earthlink.net/~w0rli
"go3049" <go3049@discussions.microsoft.com> wrote in message 
news:32D62697-E1BE-47B5-9155-CF7D25890813@microsoft.com...
>I recently sold 2000 shares of stock for $0.0001 per share.  Gross proceeds
> were $0.20.  Commissions for the sale were $29.95.  Net proceeds were
> -$29.75.  I tried to enter this into Money 2004 and it will not allow
> negative proceeds of a stock sale.  How should I record this sale? 


0
horedson1 (4)
1/13/2005 3:19:48 AM
Reply:

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Stock commission is greater than proceeds of stock sale.
I recently sold 2000 shares of stock for $0.0001 per share. Gross proceeds were $0.20. Commissions for the sale were $29.95. Net proceeds were -$29.75. I tried to enter this into Money 2004 and it will not allow negative proceeds of a stock sale. How should I record this sale? In microsoft.public.money, go3049 wrote: >I recently sold 2000 shares of stock for $0.0001 per share. Gross proceeds >were $0.20. Commissions for the sale were $29.95. Net proceeds were >-$29.75. I tried to enter this into Money 2004 and it will not allow >negative proceeds of a stock sale. ...

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