I sold some stock this year that I've owned for over 24 years but have no idea what the original purchase date was or what the value was at the time or the amount of shares. I just got the 1099 form from my account with the distribution amounts on it. Do I need to worry about the old data that I have no access to to complete my taxes correctly? Or do I just pay capital gains tax on the number on my 1099?
Thanks
Would be nice though if you could find some record of the purchase price in order to not over pay.
Yes, TD Ameritrade
Plan A
Plan B
TD Bank and TD Ameritrade are two different companies. Sorry, just something I have to tell people on a daily basis, haha.
noble, the stock was purchased at TDA 24 years ago or it was purchased somewhere else and then brought to TDA? Or was it bought somewhere else and then TDA merged with that broker?
They wouldn't. His CPA will probably come up with a good "estimate" based on time frame and price at that time. That being said, I'd def recommend calling your senior consultant or calling the service line at 800-669-3900.
Yeah, it don’t work that way. The burden of proof is on the taxpayer, not the IRS.
There was no TD ameritrade in 1995. It was just Ameritrade and only started started offering online trading that year. Not even sure it was branded that name back then. So are you sure you had an account with a little known Omaha Nebraska brokerage way back then or did you have it with one of the many firms it acquired over the next decade?
I would guess if there wasn't a data base issue here ameritrade would have had the cost basis already on your statement. Best of luck.
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Circa 1995 via TD Ameritrade and held them ever since although the number and value of the shares in the 5 or 6 companies has gone way up since then. I skimmed off some stock this year for some cash when worked slowed down
There was no TD ameritrade in 1995. It was just Ameritrade and only started started offering online trading that year. Not even sure it was branded that name back then. So are you sure you had an account with a little known Omaha Nebraska brokerage way back then or did you have it with one of the many firms it acquired over the next decade?
I would guess if there wasn't a data base issue here ameritrade would have had the cost basis already on your statement. Best of luck.
yes, you're right, it was just Ameritrade back then
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how the heck would the IRS know when and how much the original cost was? I'd think they'd need evidence to the contrary of what noble claims.
Yeah, it don’t work that way. The burden of proof is on the taxpayer, not the IRS.
I figured as much. That sucks.