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This can happen with stocks as well, someone the agent will report 0 cost basis and IRS will believe it and you have to document the actual cost basis. For me t
by kmonsen 7y ago
This can happen with stocks as well, someone the agent will report 0 cost basis and IRS will believe it and you have to document the actual cost basis. For me that made the IRS happy and I think your friend could have done the same here if he can document what he bought them for.