On Oct 16, 3:16*pm, Brew1 <brew....[at]gmail.com> wrote:
- quote -

basis, you
would need the brokerage statements or proof as to when they were
purchased.
The IRS does accept a reasonable estimate, i.e. average cost of the
stock or
mutual fund at that time.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Seth" <sethb[at]panix.com> wrote in message
news:gd81tr$61l$2[at]reader1.panix.com...
- quote -

Thanks.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

On Oct 16, 10:31*am, "jack" <j...[at]yahoo.org> wrote:
- quote -

homework."

But seriously, they may accept indirect evidence if the expenses/
deductions are
usual for the activity in which you're engaged. If you are being
audited, try to get
copies of statements that have a connection to the expenses.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

In article <gd62lu$1fq$1[at]registered.motzarella.org> ,
jack <jack[at]yahoo.org> wrote:
- quote -

Stuff like charitable contributions, where you're required to have a
receipt, you'll probably lose; ask the charity for a duplicate now.

Stuff like brokerage statements, unless the IRS gets something
different from the broker, you should be safe.

Seth

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Well, actually not mine, but my sons'. I wouldn't have thrown them out, but
sure can't find them.

They didn't have much income; the normal stuff from modest investment
accounts. I can probably reload TaxCut 2006 and print out the backup files
of their actual returns, but I can't get the supporting documents back. In
the unlikely event they are audited, will this be a problem, or will the IRS
be "fair" about it?

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >