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

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

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.

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.

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

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