Yes, the IRS and TurboTax will accept a stock cost basis of $0 but it would be better to list a dollar amount so you're not paying taxes on 100% of your stock sale.
Yes, the IRS will accept an estimate. Just document how you came up with the estimate share price and purchase date. . Since you had the stock since the 80's, your stock is long term and subject to capital gains taxation.
Please see the FAQ's below to help you come up with a "best guess estimate" of your cost basis and date acquired.
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