1099d missing cost basis , what to do

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the 1099d is missing cost basis for many items

TurboTax Online

AmyC

Alumni - Intuit

See if you can reconstruct your basis from your records. Any items for which you cannot determine a basis, use zero.

Here are some thoughts:

Check your activity confirmation / past statements
Historical prices for the approximate purchase date
Was it part of a merger or split?
Inherited -FMV at date of death
Gifted - donor's basis

I want to urge you to create a financial notebook that is kept separate from your tax return. Keep it safe and each year, add your year-end statements from all your financial accounts plus a copy of your W2’s, your carryover information, and proof of your basis in your various investments. You must keep tax records from the time you purchase until sold/ loss used plus 3 years. It is very easy to lose track of disallowed losses, carryforwards, and basis. This can be a digital or paper notebook.

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