Message Font: Serif | Sans-Serif
No. of Recommendations: 1
I hope you do not have much.

In the old days, I owned two mutual funds that paid dividends monthly. I had the dividends and capital gains reinvested. I moved several times during that period. 10 years later I sold them and tried to get the cost basis. I had to pay $50 to each mutual fund company as a research charge to get the answer for the IRS. They were not great mutual funds, so I had made less than $50 each; less if you count the opportunity cost. This was in the mid 1960s. I could have bought Berkshire Hathaway for under $100/A-share at the time if I knew about it, and if I knew how to get it. That is the opportunity cost.

I had 10 shares of another mutual fund my grandmother bought me when I graduated from high school (1956). I decided not to pay a research charge and donated those shares to a charity. Let them figure it out. Actually, the charity did not have to figure it out.

So if you are lucky, you can give the shares to a charity. And at least get a tax deduction.
Print the post  


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.