Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (28) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: KenAtPcs Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Re: No receipt = zero tax basis? Date: 10/15/2005 6:47 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Another thought comes to mind, however. If the precious metal content of the coins is known, you could do a search of historic prices of bullion and calculate what the lowest value was for the bullion content of the coin. It's highly unlikely that the coins ever sold for less than bullion value. This would establish a lower (but greater than $0) bound on the cost basis.

Thanks, IRA, that pretty much settles it. The gold content is known -- I have 3 ounces worth. (That was actually what I meant when I cryptically wrote: I could make a guess based on the price of gold over the last 25 years.)

What a shame. I actually have a loss in the neighborhood of about $600 or so, but instead I will likely have to declare a profit of about $700. All for lack of a slip of paper!

Thanks again,

Ken (who was surprised the receipt wasn't there, since even 25 years ago, I knew better)
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (28) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement