The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Two Questions about Cost Basis||Date: 8/14/1999 7:30 AM|
|Author: hghcpa||Number: 18169 of 123001|
SWAG method is acceptable in all cases other than an audit.
That may depend to a certain extent on how sharp the revenue agent is.
I dont advise using SWAG method unless there is no alternative.If that return happens to be examined I am under no obligation to notify the examining agent that SWAG exists.
This can be done on the internet (there is a site whose name escapes me that does this-any Fools know it?),
I have a link to that URL on my laptop; I am at home now so I dont know it by heart but I do recall it is on the Yahoo Finance Board.(name of link may be "Yahoo Historical Quotes"). I have used it occassionally but the data appears to be limited. I was trying to find a quote on USOP and due to reverse splits, etc it appeared their data was incorrec