Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
Hi,

You take those twenty years of statements and add up the purchase costs for all the shares. Normally the statement from the last quarter of each year will have all the transactions for that year. If you don't have the statements you can ask GM if they can recapture the transactions for you.

If they can't help you, you have an interesting problem. If you know the amount of the dividend for each quarter you can use past stock prices and try to reconstruct the cost data you need. Many companies have the stock price and dividend enfo on the company website under investor information.

The IRS expects you to tell them how much you paid for the stock, when you bought it, (You can use the word 'various' on the schedule), and how much you sold it for. Then you can subtract the cost from the selling price and either show a gain or loss.

If you can't reconstruct the cost data the only thing you can do is use zero for your costs and pay taxes on the total selling price. So it will pay you to do some work to get the cost data together.

The frequently - asked - questions data set, link to the right, probably has some more help for you.

Regards
Pat
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.