I bought stock (I have the certificates) for a couple of years through a company employee stock purchase plan about ten years ago. I am going to sell the stock this year for what I believe is a substantial loss, but I do not have a record of the exact prices I paid for the stock. How do I handle this to substantiate my loss to satisfy the IRS? Thanks for your advice.
Carl Muffoletto
The plan administrators should be able to resurrect the statements for your purchases.
-- Barry Margolin, snipped-for-privacy@alum.mit.edu Arlington, MA
*** PLEASE don't copy me on replies, I'll read them in the group ***
You will need to be able to determine and document your "basis" in the stock. My guess is that the stock was purchased through payroll deductions. If that is the case, your basis may be found on your paystubs, or year end payroll summary. Some companies also gross up the amount to account for taxes withheld. ___________________________________
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Look at the historical graph for the stock and time when your company purchased it and lower it by the discounted price the company charges you.
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