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Author: TMFTaxes 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 121585  
Subject: Re: Cap Gains on Gift Stock Date: 2/12/2000 12:42 PM
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<<In 1948, when I was three, I was given a single share of T. With its splits I had 9 shares. I sold these recently under a oddlot scheme for $15. >>

Ok...

<<As they were all splits from a girft stock, how to I calculate the captial gains tax on these. They would be all long term gains except for the three that I received in 1999.>>

They may still all be long term. I have an article on this very subject. The splits aren't a problem. They'll retain the same holding period as the original shares. Your cost basis is the original cost basis of the person who gave you the shares in 1948. I'll be that you don't have those records. But for such a small amount of money, you might just look up the share price way back in 1948 and use that as your basis. Heck...it'll be virtually nothing anyway.

<<I also had a proprotionate amount of LU stock that I have received as a "spin off" of T, which I similarly sold.>>

Yup...and in order to allocate your original basis, you'll have to use the formula provided by T. They should have sent it to you LONG ago. Perhaps you simply misplaced it. Regardless, you'll need that formula in order to allocate your original T basis to your new LU shares.

<<I cannot find historical prices (1959 & 1964) for anything other than the 1990s splist. However could T could advise on these if need be?>>

That would be the first place that I'd call. They certainly have all of the records and information.

TMF Taxes
Roy
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