I still do not know what to do if no cost or other basis is listed on my tax forms from my broker. Please help????

[nancsheerer]

The title on the proceeds is" undetermined term transactions for noncovered tax lots"  Does that have something to do with cost basis

[AnnaB]

Yes, non-covered investments are not required to have the basis reported to the IRS.  If you have not tracked your basis, you have a few options:

• You can use a site such as http://finance.yahoo.com/ to look up historical prices and re-create your basis
• You can contact your broker who should have a record of your cost basis, they just didn't report it since it is not required

If you still cannot obtain a reasonable estimate of your basis (with documentation), you may have to use zero as your basis and pay taxes on the entire proceeds.  You can also try GainsKeeper which has support for calculating basis based on dates entered as well as stock symbols.  It does require a subscription and used to be a partner of TurboTax.  However, there is a free trial that you can sign up for.

https://www.gainskeeper.com/us/BasisProIndividual.aspx

[Carl]

You need to call your broker or issuer of the 1099-B and ask them. Without a cost basis, you pay taxes on 100% of the value.

[Lisa995]

You either call the broker to help you find the basis, or you dig back through your records to when you made the purchase and see what you paid for it.