We inherited 2 bonds from a parent who passed away on December 28th. I am trying to find out the cost basis of those bonds on 12/28--don't bond prices fluctuate much like stock prices do? I cannot seem to find them on the internet. GMAC and Citizen's Fdg. We have no purchase records.
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Until you get a 1099-B, that is.
-Mark Bole
Don't cost basis gets stepped up on death?
Usually, but not always, bonds are purchased through a Broker and are held in street name (that is the broker's account). The bond owner is provided a statement at least as often as interest is paid and always at the end of the year. This statement, includes the amount of interest paid for the year and the market value of the bonds on
12/31/07. You can call the broker to see if it changed in the 3 days. Lacking a broker you will get a 1099 from the bonds' transfer agent with the same information, or you can call them.ed
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