Hal_Al
Level 15

Investors & landlords

You have to report the sale on your tax return. Lacking any cost basis, the IRS will consider the entire sale amount as taxable. So, you need to make your best effort to determine the original cost basis, even if (worst case) it's a guess. Historical prices of publicly traded stocks are  readily available on the internet and should, at least, satisfy the IRS that your basis wasn't zero; just "google" “Historical Stock Prices". I use http://bigcharts.marketwatch.com/historical/. The stockholder relations dept. at the company may be able to help.

 

 "Maybe 10 years ago, maybe 15, maybe 20".  Then, the lowest price during that period would be the most conservative approach. You would not have to use zero.