edcosoft writes (in part):If you remember the price, and can't verify it, how can the IRS refute it?I reply:My understanding is that the IRS need not refute it, because the burden is on the taxpayer to prove cost basis. If, upon audit, he/she can't, the cost basis is deemed to be $0. Having said that, I think the taxpayer can honestly and legitimately claim the cost basis as long as he/she is comfortable with the accuracy of the numbers. Just be prepared to lose if audited. --Bob
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS