Discussion:Cost basis of stock - no historical records
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Revision as of 18:47, 22 May 2009
Discussion Forum Index --> Basic Tax Questions --> Cost basis of stock - no historical records
Discussion Forum Index --> Tax Questions --> Cost basis of stock - no historical records
| 22 May 2009 | |
| We were hired by an estate to prepare decedent's 2005 and 2006 tax returns, and estate tax returns from 2006 forward. Decedent passed away in 2006. There was stock sold in 2005, and I was able to determine the # of shares sold. However, the heirs and the attorneys have no more records and I am not able to determine even what year approximately the stock was purchased. The stock was Sears Holdings corp, and they received the cash payout instead of shares of Sears Holding to replace their original Sears Roebuck shares. However, I don't know if their original stock was Allstate, Dean Witter, etc. Since I have no historical records, and none of the heirs have a clue about what was purchased and when, I need some input from any of you who have dealt with this type of situation before. How did you go about determining cost basis in a manner that you felt the IRS would find reasonable? Surely they must have some provision for this type of situation . . . | |
