Blue Chip Stocks/Stocks and taxes
Expert: Dr. Joseph de Beauchamp - 2/24/2007
QuestionI owned GE stock for over 30 years and sold it last year. Each year I reinvested the dividends. Most of the records are in the states and I am in Singapore. There are some of the records missing also due to a theft. How do I get the cost bases to report to IRS?
AnswerYou could obtain this only from GE and take a considerable time. I would estimate the money in and then out for this. You probably would be close on this. They IRS might audit you, but unless a large sum, over $10,000, the chances are that they would not. I would go with a close estimate.
Dr. Joseph deBeauchamp