Question

The Cost or Other Basis (Box 1e) on a sale of stocks is blank. So the hole sale is being taxed as profit. How do I fix that ?

Forum|Forum|7 years ago
June 6, 2019
1 reply
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Stocks were bought in 1999 and transferred a couple of times. Don't have original purchase price for 19 years ago.

TurboTax Premier Online

Employee

If you can not find the cost basis, the IRS will assume $0 cost, so please try to support your cost basis to the best extent possible. Often the company's website will have an investor relations link or while the broker dealer didn't report it, they may actually have access to the cost basis (it just is not required to be reported in 1999 purchases). Depending on your tax bracket, you may find entering $0 does not actually impact your tax liability.... Your basis will be the original purchase price plus dividend reinvestments, adjusted for spin offs and corporate actions.

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