Question

Calculating Adjusted Cost Basis on ESPP in another currency

Forum|Forum|2 years ago
March 16, 2024
1 reply
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I have a 1099-B for an ESPP account where I do not receive a discount, but rather a match of shares when contributing. It looks like the 1099-B does not have a cost basis for the matched shares I sold in 2023, and I never received a Form 3922 so I can't figure out the cost basis. There is information on the plan administrators site in terms of the purchase price of those shares, but to make matters more complicated, the shares are in a Non USD currency. How do I calculate the cost basis of these shares?

T

ThomasM125

You need to determine what the value of the shares were when you acquired them. That should be reported on your W-2 form as wage income in the year you received the matched shares. If so, you may be able to look on the W-2 form to see what the ESPP income is and divide that by the number of matched shares received to get the cost per share. You can then multiply that by the number of shares sold to get the cost basis. Or, the value of the shares may be listed on the company website as you mention. Since they are listed in foreign currency, you need to look up the foreign exchange rate on or around the date you acquired the shares and use it to convert the foreign currency amount to US dollars.

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