Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

How do you figure cost basis of stock given to you 25 years ago.If they reinvest entire amount is it taxable? Thanks!

Highlighted
Level 3
last updated ‎July 01, 2020 6:44 PM
 
Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Highlighted
Level 15
Level 15
last updated ‎July 01, 2020 6:44 PM

"Re: How do you figure cost basis of stock given to you 25 years ago.If they reinvest entire amount is it taxable? Thanks!"

If it was a gift, youd want the basis of the owner that gifted the stock...if you could find out when they bought it, you could look up historical stock prices.

Once it's sold, what you do with it doesn't matter, it's a taxable transaction.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

2 Replies 2
Highlighted
Level 15
Level 15
last updated ‎July 01, 2020 6:44 PM

"Re: How do you figure cost basis of stock given to you 25 years ago.If they reinvest entire amount is it taxable? Thanks!"

If it was a gift, youd want the basis of the owner that gifted the stock...if you could find out when they bought it, you could look up historical stock prices.

Once it's sold, what you do with it doesn't matter, it's a taxable transaction.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

Highlighted
Level 14
last updated ‎July 01, 2020 6:44 PM

And then the 25 years of reinvested dividends add to that.

Read it wrong.


ex-AllStar
0 Cheers