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#1
12-22-2003, 09:23 PM
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 Re: Cost basis related question "Ezequiel" <danliexfilucar[at]dellmail.com> wrote: - quote - > My question is the following: can I consider, as a cost
Unfortunately, you have to use your historical cost less> basis for these stocks, their average market value at the > day/month/year I became a US resident for tax purposes or am > I going to be forced to use the original cost basis ? original basis. -- Bruce E. Cobern, CPA mailto:bec[at]pipeline.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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12-22-2003, 08:06 PM
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| Re: Cost basis related question Ezequiel <danliexfilucar[at]dellmail.com> wrote: - quote - > I became a resident in the US for tax purposes at the
No.> beginning of 1999. Back in 1996 (at that time I was not in > the US and did not have any link with the US) I bought some > stocks which were recently sold (late 2003). > My question is the following: can I consider, as a cost > basis for these stocks, their average market value at the > day/month/year I became a US resident for tax purposes or am > I going to be forced to use the original cost basis ? First there is no way to do that, and second, only shares of mutual funds can use average cost basis. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
12-19-2003, 01:02 PM
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| Cost basis related question Ladies and gentlemen, I became a resident in the US for tax purposes at the beginning of 1999. Back in 1996 (at that time I was not in the US and did not have any link with the US) I bought some stocks which were recently sold (late 2003). My question is the following: can I consider, as a cost basis for these stocks, their average market value at the day/month/year I became a US resident for tax purposes or am I going to be forced to use the original cost basis ? Thanks for your comments. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| basis, cost, question, related |
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