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17-07-2007, 12:15
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 How to report stock sale with no purchase records? If someone had purchased stocks over 10 years ago, sold it in 2006, has no history of the date of purchase or price other than the purchase happened in 1997 or 1998, and the financial firm no longer has history of the trades on the account, what is the best way to report the sale to the IRS for tax purposes?What is known is that the stocks were all trading a lot higher in those years than when they were sold in 2006, so it should be a loss. Historical trade data is no longer available online for a couple of companies as they went out of business or were acquired.
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