GiseleD
Expert Alumni

Investing

1) If you did not record the basis (understandable, considering that it was 30 years ago), just use the basis your brokerage assigned. If they assigned no basis, then you will have to use a zero basis and recognize the full gain on the sale. Since these investments were held for over one year, they will be long-term.

 

2) No. You can just take a zero basis. But if you think you can track down the basis, it will likely save you money in tax. 

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