Mar 11, 2025 · What to Do When You Have an Unknown Cost Basis. Learn how to determine or estimate the cost basis of investments when records are missing, ensuring accurate tax …

Feb 19, 2024 · When you receive an asset without buying it, such as through a gift or inheritance, the IRS applies different rules to determine your cost basis. Each situation will work slightly …

Jan 1, 2013 · According to the IRS, to figure out the basis of property you receive as a gift, you must know three amounts: The adjusted cost basis to the donor just before the donor made …

Aug 14, 2021 · You'll need to sign in or create an account to connect with an expert. You would pay the most tax if your cost basis was zero, so you aren’t going to get in trouble for reporting …

Mar 3, 2015 · What do you you do if you need to figure cost basis of shares you sold but you don't know when they were originally purchased? Consumer Reports offers suggestions.

Don't add to your basis costs you can deduct as current expenses. For example, amounts paid for incidental repairs or maintenance that are deductible as business expenses can't be added to …

In most situations, the basis of an asset is its cost to you. The cost is the amount you pay for it in cash, debt obligations, and other property or services. Cost includes sales tax and other …

Sep 6, 2022 · If you have cost basis information missing in a taxable account, it is important to work with your custodian on correcting the missing information. By default, they will report a …

Apr 16, 2024 · Whether you need to report a gain or can claim a loss after you sell an investment depends on its cost basis. Learn the basics about how to calculate an investment’s cost basis, …

Mar 5, 2025 · Investors can check brokerage statements, company investor relations pages, or IRS guidelines for reconstructing cost basis. If records are unavailable, the IRS allows the use …