Can I use the original cost basis on stock that purchased 25 yrs ago after the company multiple mergers?

[Snickers54]

can I use the original amount of 10 shares @24. of $240 as the cost value. Over the years there have been multiple mergers(bank stock) that just issued new stock. At time of sale there was only 9 shares and paid $5.00 per 9 shares of $45.00. they issued a 1099 b with sale of 9 shares for $45.00. The cost basis is blank. Since I know the amount of the original purchase can I use that for a loss?

[LeeM · Accepted solution]

Yes, you should enter the amount of the original purchase as the cost. So, you would have a long-term capital gains loss on the sale of those shares.

[CailaL]

@Snickers54

[Snickers54]

The company also issued new stock, is the new cost basis for those shares the value they used at the time of merger?

[Smithgirl43]

Can I use the original cost basis on stock that purchased 25 yrs ago after the company multiple mergers?