Julie Jason: A gift of stock requires recordkeeping
Feb. 28, 2021
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Financial writer Julie Jason will be the speaker at the “Author Talk” at the Greenwich Library from 6:30 to 8 p.m. Wednesday. Jason is the author of “Retire Securely,” a collection of her nationally syndicated column.BCAPAZZO / Contributed photo
Little did “Ivan” know that it would have been a good idea to record the cost bases (the original prices) of the five stocks his grandparents gave him 20 years ago, along with the cost bases of the dividends he reinvested in those stocks after receiving the gift.
Now that Ivan’s thinking of selling those stocks, the cost bases (showing up as all zeros on his brokerage statements) need to be researched and updated for tax purposes.