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Author: nagdabbit One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120819  
Subject: Cost Basis Date: 11/26/2012 2:13 PM
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If you can't find the cost basis of a stock you sold can you just report a basis of zero?

This is old stock that was worth less than 100.00 when sold.
And was one of those, this company became another, had reverse split, became this other co and so on and so on. It has a very confusing background.

thx
nag
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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 116977 of 120819
Subject: Re: Cost Basis Date: 11/26/2012 2:54 PM
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If you can't find the cost basis of a stock you sold can you just report a basis of zero?

Yes.

Phil
Rule Your Retirement Home Fool

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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 116978 of 120819
Subject: Re: Cost Basis Date: 11/26/2012 4:58 PM
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This is old stock that was worth less than 100.00 when sold.
And was one of those, this company became another, had reverse split, became this other co and so on and so on. It has a very confusing background.


Even though Phil answered you correctly, it sounds from your description that you could have a loss on the stock. You'll have to decide if the research is worth the effort.

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Author: nagdabbit One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 116982 of 120819
Subject: Re: Cost Basis Date: 11/26/2012 7:14 PM
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Oh, yes
It was a loss...bought during the big boom -

We have other losses that I can document from that era.

Did so much research on those, and on this one, that I'd like to just be done...not worth the time - want them off the books - done.

Just wanted to make sure that the IRS would be 'happy' with a cost basis of zero.

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Author: stockmover Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 116985 of 120819
Subject: Re: Cost Basis Date: 11/27/2012 1:44 AM
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Just wanted to make sure that the IRS would be 'happy' with a cost basis of zero.

My experience has been that the IRS is ALWAYS happy with a taxpayers cost basis of zero ;-)

That is why when you combine the words "the IRS" it ALWAYS comes out THEIRS !!! ... Sorry Phil .. I couldn't resist.

Rich
Arizona

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Author: brucedoe Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 117024 of 120819
Subject: Re: Cost Basis Date: 11/30/2012 4:12 PM
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At this date, I doubt you can ever figure things out. My wife owned Southern Company stock for many years, but lost a lot of their statements and she reinvested dividends and bought more on occasion. So we wrote Southern Company and they replied that they only kept stock information for 10 years.

Their dividends are pretty goo and we have no plans to sell.

brucedoe

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