TurboTax Help Intuit. How do I find a stock's cost basis if I don't know when it was purchased? Related Information: How do I find a stock's cost basis?
For stocks that have been held over many years outside of a brokerage firm, investors may need to look up historical prices to calculate cost basis. Historical prices can be readily found on the internet. For investors that self-track stocks, financial software such as Intuit's Quicken, Microsoft Money, or using a spreadsheet like Microsoft Excel, can be used to organize the data. Lastly, websites such as GainsKeeper or Netbasis are available to provide cost basis and other reporting services for investors.
All of these resources make tracking and maintaining accurate records easier. The equity cost basis is important for investors to calculate and track when managing a portfolio and for tax reporting. Calculating an equity cost basis is typically more complicated than summing the purchase price with fees. Continual monitoring of corporate actions is important to ensure that investors understand the gain or loss profile of a stock position, as well as ensuring that capital gains and losses are accurately reported.
Although brokerage firms tend to track and report this information to the IRS, there are situations where they do not have it, such as in the case of a gifted stock. In addition to brokerage firms, there are many other online resources available to assist in maintaining an accurate basis. The concept of cost basis is fairly straightforward, but it can become complicated. A tracking cost basis is required for tax purposes but also is needed to help track and determine investment success.
It's important to keep good records and simplify the investment strategy where possible. Internal Revenue Service. Accessed July 7, Securities and Exchange Commission. Fixed Income Essentials.
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Table of Contents Expand. What Is Cost Basis? Tax Reporting Cost Basis. Calculating Cost Basis. Why Is Cost Basis Important? Examples of Cost Basis. Inherited Stocks and Gifts. Keepin it Simple. The Bottom Line. Turn on suggestions. Showing results for. Search instead for. Did you mean:. New Member. How can I document cost basis improvements to my home if I don't have receipts.
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