Tadpole
Thinks s/he gets paid by the post
- Joined
- Jul 9, 2004
- Messages
- 1,437
I have some Chevron stock. It started out as an inheritance of Texaco stock 25 years ago, so I got it for free. In that time there has been a purchase of Texaco by Chevron making an entity Chevron-Texaco and finally a single company Chevron. I'm not sure the Chevron-Texaco matters since the stock was repriced at the time of merger and new shares issued. At first the dividends were sent to me but I changed this about 10 years ago to reinvest them but paid yearly tax on the dividend. They did not withhold the tax, I paid it at tax return time. During this entire period there have been several stock splits. I have paper certificates for the holdings at the time of the split but not for the new split shares or for the dividend purchases. They have these in their records (held at Mellon?). I am giving all this information because I don't know if it is or is not needed to answer my questions which are:
If I sell half of the holdings in Chevron, is there any way I can earmark this half as only from the capital gains to take maximum advantage of the low tax rate?
Who would have a record of how much of the stock is taxable and how much has already been taxed? Is Chevron or Mellon required to have a record going back this far when the records originally belonged to Texaco? If I need to do this myself, what records do I need to document it?
If I sell half of the holdings in Chevron, is there any way I can earmark this half as only from the capital gains to take maximum advantage of the low tax rate?
Who would have a record of how much of the stock is taxable and how much has already been taxed? Is Chevron or Mellon required to have a record going back this far when the records originally belonged to Texaco? If I need to do this myself, what records do I need to document it?