Stocks, Bonds & Mutual funds

If you sold your investment we need the basis.

Basis is the amount paid for the investment. Includes any commissions paid to obtain investment. If you make subsequent purchases these get added to the basis of the original purchase, including the cost of any reinvested dividends. You can elect to use specific identification, first in first out or average cost when shares were purchased at multiple times to determine your basis.

If you receive an investment as a gift the basis is whatever the donor paid for the shares.

If you receive an investment as an inheritance the basis is fair market value at the time of the decedent’s death.