Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [cost-basis]

135 questions
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how do capital gains work if you don't know the original purchase price?

So let's say my grandparents bought me 1,000 shares of some stock. They used the wrong address, however, and I never knew about it until after they died. The state got the stock and then, a bunch of years after I guess it was purchased, I found out…
neubert
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401(k) cost basis

My first 401(k) started in the early 1990s with some employer matching funds. Since then, there have rollovers, more 401(k)s, and lost records. Aside from a really rough estimate, what happens when the 401(k) cost basis is unknown?
CWallach
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How should I report my RSUs in my tax return

I had some RSUs where some amount (call it V) vested. Then tax was taken and a smaller amount (call it R) were released, which I sold. I'm using E*Trade, and HR Block have imported my 1099-B form. The question I have is what should I say the taxed…
daveb
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Gift house to parent then inherit it back to increase basis?

(Question for USA taxes.) Let's say that I have one remaining parent who is quite advanced in age. I own an investment house that has appreciated in value significantly. I want to sell it eventually, but not any time soon. I want to pay less…
qg_jinn
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What are the tax liabilities or impact for selling gold in the USA?

What are the tax liabilities for selling gold? For example, suppose I bought an ounce of gold in 2005 at $500 and I sold it yesterday for $1,500. What kind of taxes are due on this (in the United States)? Where do I report the transaction to the…
JDelage
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In the event of a corporate spin-off, how can I calculate the correct cost basis for each company's shares?

Consider this example: Siemens is going to have a spin-off (next Monday). If I owned, say, 10,000 shares of Siemens bought at an average price of 80 euros, my cost would be 800,000 euros. In the spin-off, for every 10 shares of Siemens, I will get…
NL49
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How is peer-to-peer lending taxed in the US?

If I make a $1000 investment in peer-to-peer lending, then are the repayments simply taxed as interest payments, similarly to interest earned in a savings account, or is there a reflection of the cost basis like you have when investing in stocks or…
Hari
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What is my cost basis for an old computer given to me by a client when they upgrade?

I do I.T. and sometimes a client will want to upgrade or buy a new computer even when their old one is decent. Suppose they give me a computer that they paid $1000 for, and the FMV is around $400 at the time. Then I turn around and sell that to…
Eddie
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1099-B, box 5, how to figure out cost basis?

(in the USA) I just got my 1099-B for stock that was sold last year. Since the company was bought out, all my stock in this company was sold. This stock was originally invested when I was very young and the number of shares has increased over the…
NeutronStar
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Cost basis step-up on inheritance of real estate

Assume there is a property owned by a couple with one son. When one parent dies, s/he bequeaths one half interest in the property to the son and half to the spouse. Two years later the property is placed in service as a rental and both surviving…
Ex Umbris
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Is it ok if I under-report my cost basis for certain securities?

Yes, I would like to say that my cost basis is lower than it actually was (and thus pay more taxes). Quick story, which I think is mostly correct (but I can't remember all details): I own shares of the GLD ETF. I believe that a very small amount…
Jer
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What is the law/regulation which prohibits brokers from reporting basis on RSUs?

As far back as I can remember, the basis reported by my broker on my 1099 for vested RSUs has always been $0. Every year I receive a letter informing me that my broker is legally not allowed to report an adjusted basis that accounts for the fact…
thbrown
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How figure out cost basis when the same asset is located in different brokerage accounts?

I have two brokerage accounts Robinhood and TD Ameritrade. Here are my transactions for ABC stock: Jan 10, 2020 bought 10 ABC from Robinhood. ABC price $50 Jan 15, 2020 bought 70 ABC from TD Ameritrade. ABC price $70 Jan 20, 2020 sold 10 ABC from TD…
user105240
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What are the negative implications of the 2011 cost basis reporting law?

The United States has a new law requiring brokerages to report the cost basis of sales on IRS Form 1099-B. For stocks purchased after January 1, 2011, financial services firms will have to report the cost basis for any of those stocks sold. The law…
JCotton
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Cost Basis in Retirement Accounts Irrelevant?

Since distributions are considered income for traditional accounts, and Roth distributions are not taxed, does using Lot Identification instead of Average Cost (or vice versa) make any difference whatsoever in a retirement account?
Phil Sandler
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