Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
cpiv2017
New Member

Have 1 (one) share of a $158 stock that we had for easily 15-20 years. No records to show cost basis or date acquired. Sold in 2017. Just omit these two pieces of info?

 
1 Best answer

Accepted Solutions
fanfare
Level 15

Have 1 (one) share of a $158 stock that we had for easily 15-20 years. No records to show cost basis or date acquired. Sold in 2017. Just omit these two pieces of info?

Yes you can do that. Your basis must be entered to be 0.00, It won't change your lifestyle.

You must pick some date, or enter "Various".

View solution in original post

2 Replies
fanfare
Level 15

Have 1 (one) share of a $158 stock that we had for easily 15-20 years. No records to show cost basis or date acquired. Sold in 2017. Just omit these two pieces of info?

Yes you can do that. Your basis must be entered to be 0.00, It won't change your lifestyle.

You must pick some date, or enter "Various".

View solution in original post

cpiv2017
New Member

Have 1 (one) share of a $158 stock that we had for easily 15-20 years. No records to show cost basis or date acquired. Sold in 2017. Just omit these two pieces of info?

Thank you for your time Fanfare. Wasnt sure what to do about that/didnt want to unnecessarily do anything to trigger an audit for such a small sum.  I saw in your profile that you are a retired, NJ resident who states concern about NJ Inheritance taxes (thus presumptively have either non Class-A beneficiaries and/or an estate worth over 2 million).  There are ways via Estate and Trust Planning (shielding assets, gifting, trusts) to benefit your heirs, to control assets which would flow through probate.  Is there a way to send you a private message with information of a specializing law firm that I personally know that could assist you, if desired?
Dynamic AdsDynamic Ads
Privacy Settings
v