Ooh dear, taxes do seem to have been featuring here for some time now...if the end's not yet in sight, I hope that at least it's not too far in the distance...
We are working on my parent's very complicated taxes this year besides our own. That's why things are taking so long. The deadline is the middle of April, so I guess the it's not too far away.
I am assuming that you're working on your parents taxes, if you are looking for the cost basis for a stock purchased 50 years ago. Did you get the answers you needed? Just in case, the cost basis is what the stock cost, so you can figure your gain. Oh, I just saw in the comments, you are working on your parents' taxes. I can definitely relate to the complicated bit. I've gotten some good advice by calling the tax hotline, and tracked down cost basis by calling the brokerage firm that took over my dad's accounts. We had the date of purchase, and the lady I talked with at the brokerage was able to look up the trading price for that date, if I remember correctly. Good luck!
I appreciate your help. We have talked to many people and looked at many web sites. One of the problems is that my parents purchased the stock from small companies before they were publicly traded so it impossible (so far) to get historical date from them. Combine that with many mergers and the whole thing gets pretty confusing.
Oh. There are times when an accountant is really valuable. This may be one of those times.
Doesn't it make you want to just cash in everything you have right now and hide it all in a box buried in the yard, for your kids to find someday? I think the US makes it so difficult to do the fair and right thing, with regards to taxes. Most of us just want to pay our fair share, and it's so hard to figure out what that fair share is. Again, heaps of good wishes for figuring this all out!
Good luck with it all, I know you can do it :) Do you usually get money back from your tax?
ReplyDeleteIt varies, but recently we have getting some back. Thanks for the encouragement.
DeleteOoh dear, taxes do seem to have been featuring here for some time now...if the end's not yet in sight, I hope that at least it's not too far in the distance...
ReplyDeleteWe are working on my parent's very complicated taxes this year besides our own. That's why things are taking so long. The deadline is the middle of April, so I guess the it's not too far away.
DeleteGood luck :)
ReplyDeleteThanks. We've been making some major breakthroughs in the last couple of days, so that's encouraging.
DeleteI am assuming that you're working on your parents taxes, if you are looking for the cost basis for a stock purchased 50 years ago. Did you get the answers you needed? Just in case, the cost basis is what the stock cost, so you can figure your gain. Oh, I just saw in the comments, you are working on your parents' taxes. I can definitely relate to the complicated bit. I've gotten some good advice by calling the tax hotline, and tracked down cost basis by calling the brokerage firm that took over my dad's accounts. We had the date of purchase, and the lady I talked with at the brokerage was able to look up the trading price for that date, if I remember correctly. Good luck!
ReplyDeleteI appreciate your help. We have talked to many people and looked at many web sites. One of the problems is that my parents purchased the stock from small companies before they were publicly traded so it impossible (so far) to get historical date from them. Combine that with many mergers and the whole thing gets pretty confusing.
DeleteOh. There are times when an accountant is really valuable. This may be one of those times.
DeleteDoesn't it make you want to just cash in everything you have right now and hide it all in a box buried in the yard, for your kids to find someday? I think the US makes it so difficult to do the fair and right thing, with regards to taxes. Most of us just want to pay our fair share, and it's so hard to figure out what that fair share is. Again, heaps of good wishes for figuring this all out!