Found similar answer from 2020; however, want to make sure I'm reporting correctly. In 2006, my mother gifted my son (age 3) her PSEG stock (my father was deceased) and I am still listed as the custodian (a total of 27.6 shares). We've reinvested the dividends and in 2008 the stock split.
In 2024, we sold 65/132 shares at 60.98 per share totaling $3755.58. There is no cost basis listed on the 1099B. The only paperwork I have (my mother is now deceased) is from 1985 and 1987 showing my parents had a total of 4 shares (no cost basis) to start. I believe they reinvested dividends and probably bought more along the way.
Do I put 0 in for the cost basis since I have no idea or does the IRS or???
Thank you so much!
