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I don't see what's so difficult here: subtract what your parents paid (for the entire block of stock) from the proceeds, then add any return of capital and any transfer of basis due to spinoffs.

The stock had been purchased by my parents on 10/25/1975.

I doubt it. 10/25/75 was a Saturday. Do you mean 10/24? Yahoo reports the closing price for 10/24/75 as $55.00 and the "adjusted close" (which accounts for dividends and splits) as $4.36:

Sounds like you may not have a record of what your parents paid. Do you at least know the number of shares they originally purchased? If so, then a reasonable estimate of cost basis would be 55*(# shares originally purchased). Though, making an estimate like this may not be kosher.

Might be good for you to read "Stocks and Bonds" section of pub. 550, which discusses how to adjust basis. It starts at the bottom of pg. 43.

Note that splits only affect the per-share basis. Splits do not affect the total basis.

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