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Reply to "How do I figure cost basis for stock given to me at birth?"
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[quote=Anonymous]You probably can't even use those calculators. It isn't that you have to figure out the basis as if you bought on your birthday. You have to know what the person who gave you the stock's basis was - as a gift recipient you inherited their basis. Have you considered donating the stock? You can take a donation for the full current value and avoid this issue all together. Obviously, less money for you than if you sold it and paid tax on the whole thing, but if you were planning on giving to charity anyway, this is a good way to do it. You can even donate the stock into a donor advised fund, take the full deduction, and disburse the funds over several years or to several charites. [/quote]
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