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Get your taxes done using TurboTax
Yes - your cost basis is the stock price at the time of the gift. You can usually find historical stock prices on the company's website. If there were brokerage fees to you at the time of the gift, you can add them to the basis. Brokerage fees involved in selling the stock can be subtracted from the sales price.
Perhaps your stock is considered "noncovered" since it was given to you and not purchased by you.
ā€ˇFebruary 17, 2020
8:24 AM