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February 22, 2025
Question

figure out cost basis of gifted stocks

  • February 22, 2025
  • 1 reply
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In the current form 709 of 2024, how to figure out the numbers for column e in Schedule A when shares were gifted in kind on 8/7/2024 and the shares were purchased in 2004?

    1 reply

    February 22, 2025

    don't understand your issue. unless there were stock splits, a reorganization, or other corporate changes that affected your stock basis. it would simply be the number of shares gifted times the pro-rata cost of the number of shares bought in 2004

     

     

    if there were corporate changes you're on your own for figuring your tax basis.