A Greek trireme. A Trireme is an ancient oar-driven warship powered by about 170 oars men. It was long and slender, had three tiers of oars and one sail. On the bow was a battering ram that was used to destroy enemy ships. The tip of the ram was made of bronze and could easily slice through the side of a wooden ship.
When you buy 1,000 shares of Ford at $14 and your broker charges you a $10 commission, your cost basis is $14,010 for those shares. That transaction is given a unique tax lot ID so you and the IRS can track those shares separately from other Ford stock you might buy later.
This means that for RSUs, the part of the cost basis related to the compensation income recognized is not reported to the IRS. As a result, the cost basis for shares sold may be blank on Form 1099-B as it is optional for brokers to include such information.Please see the Year-End Tax Reporting memo for information on when to expect a 1099-B from Morgan Stanley and/or Charles Schwab.: How have IRS Form 1099-B and cost-basis reporting changed for sales of shares issued at vesting of RSUs? Why is cost basis blank on Form 1099-B from Morgan Stanley? A: The final IRS regulations for 2014 carved out exceptions for RSUs, which is technically called a ânon-covered securityâ.