Stock Cost Basis

[Cowboy10]

My Father received shares of stock about 35 years ago as a part of his retirement compensation.  How do I determine the cost basis on shares sold in 2023?

[DianeW777]

It depends.  If your Father actually had not cost or the value of the shares were not included in his taxable income in the year received, then he would have a zero cost basis and the full proceeds would be taxable.  If your Father believes he did have a cost or had income included when they were received, then you can check with a stock broker or the internet for the value of the stock on the day he had full access and ownership of the stock.

• How do I find a stock's cost basis?