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URL:  http://boards.fool.com/if-she-cannot-justify-the-basis-it-must-be-23827770.aspx

Subject:  Re: I feel sorry for her....... Date:  3/13/2006  1:20 PM
Author:  jrr7 Number:  84923 of 121061

If she cannot justify the basis, it must be reported as $0.

Hearsay from a broker is not sufficient justification.

Just make sure you can justify the longterm holding period.

If she doesn't want to do the "sell with unknown basis" transaction, recommend that she give the stock to a charity. She doesn't need to know the basis and she gets a tax deduction for the entire value of the stock. It also may assuage her "I've done something wrong" feeling.
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