How do I establish a cost basis for shares of stock acquired in a spinoff?

[alcibiades77]

In December of 2018, I sold 85 shares of a common stock received in 2009 as a spinoff from another stock I owned. The price was $30.85/share at the time I received the 85 shares and the stock was sold at $44.27 per share, less fees totaling $23.50 for the whole sale. Is my cost basis: $85 x $30.85 for capital gains calculation purposes?

[KittyM · Accepted solution]

If the stated price of the spinoff shares was $30.85/share, then you can use that number for your cost basis.