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Stock Cost Basis - AT&t to Avaya

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wmaster

Junior Member
What is the name of your state? CO

I have recently received around $90 for my 5 shares of Avaya. The history of these go all the way back to a purchase of stock from AT&T, which my grandfather purchased and transfered to my name sometime in the 99 year. It went From AT&T to Lucent to Avaya. I do not have any records in my possession prior to 2000. After doing a little research on trying to calculate the cost basis, it doesn't seem near worth the time for this amount of money, unless perhaps I understand it to be much more complicated than it really is? Is there a legit way to declare this taxable income without having to go through the complicated cost basis calculations?

Thanks.
 


LdiJ

Senior Member
What is the name of your state? CO

I have recently received around $90 for my 5 shares of Avaya. The history of these go all the way back to a purchase of stock from AT&T, which my grandfather purchased and transfered to my name sometime in the 99 year. It went From AT&T to Lucent to Avaya. I do not have any records in my possession prior to 2000. After doing a little research on trying to calculate the cost basis, it doesn't seem near worth the time for this amount of money, unless perhaps I understand it to be much more complicated than it really is? Is there a legit way to declare this taxable income without having to go through the complicated cost basis calculations?

Thanks.
Yes, you can just report the 90.00 on schedule D and use a cost basis of zero and mark it as a long term gain. Its going to mean 13.50 in tax.
 

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