Your financial institution may report transactions where one or more data elements are unknown by the institution and cannot be reported.
In such a case, you have to determine cost basis from your own records. For instance, if you purchased the investment, the cost basis is what you paid for it.
At the time that you received the shares and received a report from the bankruptcy court, what value were you told that the shares held?
You may have held some investment that then precipitated your involvement in the bankruptcy proceeding. What was your cost basis in that investment?
Were the shares received in a bankruptcy settlement that took place in 2025? Or at an earlier date? This date may give you a idea whether the investment should be reported as held on a long-term or short-term basis.
In addition, you might ask the broker if they have any information about the acquisition date and purchase price. Sometimes they have the information, even though they do not report it on the IRS form 1099-B which they issue.
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