1099b form has a placeholder for the date acquired and $0 cost basis. Confirmed with broker that this information is not on file. How do I report for tax purposes?

[MichaelL1 · Accepted solution]

If you do not know date acquired and price paid you have two choices.

A.  List the dated as "various" and then TurboTax will ask you if long or short term.  Long term is anything over one year. So it is probably long term.  The cost would be entered as $0.

B. Do some homework to try to figure out the best can as to when you bought it, and the cost.  So if you a statement 10 years old and it was listed there, you know you bought it over 10 years ago.  Keep digging and then you can go to search the internet to figure out as close as you can as to what you would have paid for it at that time.  Use that price (as anything is better than $0).  As long as you use good sound logic, you should be OK.  Whatever you use, document in the tax file you will keep. If it is not worth the trouble, use step A. 

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