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I bought shares of a certain stock a while ago, but cannot find my "Confirmation". I am now selling some of those shares and I need the Cost Basis. What do I do?

Apr 08, 2013 by Pat from Kearney, NE in  |  Flag
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7 votes
Lee Munson Level 16

Who told you you need this? Are the shares in a taxable or IRA account? If the brokerage firm asked you for the confirmation - you ask them if you bought it from them. If they say you didn't - ask them where the shares came from in the first place. Also, why doesn't your current brokerage firm have that information in the first place? I would be challenging the firm asking you before hunting around for information.

1 Comment   |  Flag   |  Apr 09, 2013 from Albuquerque, NM
Pat

My tax accountant did. I have been jumping through all sorts of hoops, but to no avail. I bought these shares through Vestax Securities (late 90's or early 00's)
, but they no longer exist. I called the transfer agent with Walt Disney, but since I did not buy the shares through them, they have no record. My current brokerage firm does not have that information because the stocks were transferred in to them.

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Flag |  Apr 11, 2013 near Kearney, NE

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3 votes

Pat - I would suggest contacting the brokerage firm with where your stock was held. They should have a record of your transactions. Take care - Marcus

1 Comment   |  Flag   |  Apr 08, 2013 from Long Beach, CA
Pat

But that brokerage firm is out of business & the firm that does have my account said that the stocks were transferred in & they have no idea what the stocks were originally purchased at.

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Flag |  Apr 11, 2013 near Kearney, NE

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1 vote

Try to determine a date range. If you can narrow the purchase date down to a number of weeks or months, use those dates to find prices that you can average. Make sure you keep a record of your calculation in case the IRS wants to know how you came up with the cost basis. (Source: TurboTax... (http://turbotax.intuit.com/support/iq/Investment-Income/How-to-Find-the-Cost-Basis-for-Your-Investments/GEN84326.html) Hope this helps...

Comment   |  Flag   |  Apr 19, 2013 from Springfield, MO

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