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We received stock as a gift from the co-founders of an Internet provider company. We sold some of the stock to raise cash. At the time of the gift, the stocks were worth about $20/share. I've had 2 Accountants give me different advice when determining our taxes. One said that the cost basis would be $0 since they were from the founders of the company. One said that it would be the value at the time the stock was gifted to us. How do I find out which is the correct answer? I know which one I'd like it to be!
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