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I need to know about my taxes they say I owe as soon as

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possible, my late husband took...
I need to know about my taxes they say I owe as soon as possible, my late husband took care of all of this stuff, I think I am going to have a breakdown over this please I need help now
Submitted: 2 years ago.Category: Tax
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Answered in 3 minutes by:
9/9/2015
Tax Professional: Lev, Tax Advisor replied 2 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,699
Experience: Taxes, Immigration, Labor Relations
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If you receive a letter from the IRS about tax assessment - that letter should tell why the IRS assessed additional tax liability.
Can you tell me what exactly that letter tells.

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Customer reply replied 2 years ago
proceeds from Broker and barter exchange transaction's if the broker did not provide an amount in box 3 we used a zero cost basis because we were not able to determine the cost or adjusted basis of stock sold
Tax Professional: Lev, Tax Advisor replied 2 years ago

We should not use ZERO as the basis - as these are real assets - and do have some purchase price.
Using zeros might increase your tax liability dramatically for no reason.
You might want to discuss with the broker - asking to help in determination of the basis depending on when assets were purchased.

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Lev
Lev
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