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PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4027
Experience:  35 years tax experience, including four years at a Big 4 firm.
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My 92 year old mother bought some stock 30 years ago and

Customer Question

My 92 year old mother bought some stock 30 years ago and just sold it this year. She sold 292 shares for a total of $16,000. She has no idea what she paid for it. How does she figure out Capitol Gains.
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Customer: Isn't there some rule about age in having to file income taxes.
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Submitted: 7 months ago.
Category: Tax
Expert:  PDtax replied 7 months ago.

Hi from Just Answer. I'm PDtax. I'll assist.

Expert:  PDtax replied 7 months ago.

Publicly traded shares can be tracked now more easily than ever before. We used to use a printed service to track historical stock prices and stock dividends/ stock splits. Now you can look at Yahoo Finance for historical stock pricing.

I took the liberty of trying it with Microsoft, and this is the link I used:

Use that link, type in the symbol, and take an average of the stock price for the year. If it traded from $10 to $16 in 1985, I would use $13 as an estimate of share basis.

If dividends were reinvested, buying more shares, recent statements might mention those purchases. Stock splits or dividends will also be part of the Yahoo history pages.

In the event this is unwieldy or unsatisfactory, I typically estimate the shares were ____% of the sale price. Given the long holding period, I might go with 20-25% of the sale price as a cost estimate.

Thanks for asking at Just Answer. Positive feedback is appreciated. I'm PDtax.

Expert:  PDtax replied 7 months ago.
Hi again. PDtax here.If my response meet your needs, please rate my assistance when you accept my answer. I'm PDtax.