AmyC
Expert Alumni

Get your taxes done using TurboTax

@cedar995  you list quantity sold as zero. Your basis equals cost. @DaveF1006  is correct. Return of capital is a negated amount for you. It is simply returning some of your money to you.

 

@ja 102 @MaryM428 is correct when she says that if you don't know the cost basis, zero is correct. In fact, that is what the IRS requires when the basis is not known.

 

See Publication 551, Basis of Assets

 

@taxconfused3 this site is answered by CPA and EA experts so if you have accounting or tax needs, we are here. You  will not be flagged for a $6 mistake. The safest answer when dealing with the IRS is zero - if you do not know the basis. If your broker replies the same as @cedar995 that it is return of capital, then it is not taxed.

 

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