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Started By
Message
need help finding a stocks share price on a specific day
Posted on 8/5/22 at 2:50 pm
Posted on 8/5/22 at 2:50 pm
i was gifted some stock shares
im trying to figure out what my starting value as accurate as possible so i know what my gain/loss is when im ready to sell it
the stock trading account cant tell me the starting value
it seems like such a simple basic question but since ift was a gifted transfer, it wasnt recorded as a sale, so it doesnt have a starting cost value.
they said they will send a note to another dept who will get back to me but that was a week ago
so can anyone tell me what is the best way to find the accurate value price per share of psec on jan 3rd 2022 when the account was created?
i rather not just look at a chart and guess at it (i did this already) but its enough stock that a few pennies difference matters a lot by the time you add it all up
also would my starting value be based on the market open price or the closing price for the stock since it gained like 0.08 in value on that day
im trying to figure out what my starting value as accurate as possible so i know what my gain/loss is when im ready to sell it
the stock trading account cant tell me the starting value
it seems like such a simple basic question but since ift was a gifted transfer, it wasnt recorded as a sale, so it doesnt have a starting cost value.
they said they will send a note to another dept who will get back to me but that was a week ago
so can anyone tell me what is the best way to find the accurate value price per share of psec on jan 3rd 2022 when the account was created?
i rather not just look at a chart and guess at it (i did this already) but its enough stock that a few pennies difference matters a lot by the time you add it all up
also would my starting value be based on the market open price or the closing price for the stock since it gained like 0.08 in value on that day
This post was edited on 8/5/22 at 3:07 pm
3
Posted on 8/5/22 at 3:06 pm to Tiger Prawn
quote:
Tiger Prawn
thank you sir
do you know if as far as taxes go, do i use the starting price or the closing price since the stock was transferred on that day before the market closed?
im not sure if the starting value per share for me would be the $8.45 price or the $8.53 price
This post was edited on 8/5/22 at 3:10 pm
Posted on 8/5/22 at 3:18 pm to keakar
No, sorry. I don't even do my own taxes
Posted on 8/5/22 at 3:23 pm to keakar
We don’t pay taxes here brah it’s all in crypto tax free
Posted on 8/5/22 at 3:34 pm to el Gaucho
quote:
We don’t pay taxes here brah it’s all in crypto tax free
biden will have them new IRS agents coming after your crypto, thats why they bringing in a whole new group of gestapo agents to come after you
Posted on 8/5/22 at 3:38 pm to Tiger Prawn
quote:
No, sorry. I don't even do my own taxes
ok, thanks any way
i was trying to use yahoo finance and those charts dont show anything but closing prices and are pretty hard the dig down to one specific day
Posted on 8/5/22 at 5:12 pm to keakar
Close
Posted on 8/5/22 at 7:37 pm to keakar
Posted on 8/6/22 at 10:19 pm to keakar
Whoever gifted the shares should have the value as of the transfer on their statement.
Posted on 8/6/22 at 11:39 pm to KillTheGophers
The fair market value on the date of the gift is the mean between the high and low prices on the date of the gift, not the price at close.
But your cost basis and holding period is the same as the person who gifted it to you. The cost basis and holding period transfers.
So if the person who gifted it to you bought the stock for $100 in 1964 and you sell it for $1,000,000, you'd have to pay taxes on $999,900 of long term capital gains.
The fair market value matters when it is below the original cost basis on the date of the gift. For example, if the person who gifted it to you paid $1000 for it but it was only worth $500 on the date of the gift. In that case the fair market value on the gift date becomes your cost basis and your holding period begins then provided you sell at a loss below that fair market value. So your cost basis would be $500 and you'd take a $100 loss if you sold for $400.
If you sell at a price between fair market value on the date of the gift and the original cost basis, so between $500 and $1000 in my example, no taxes are incurred. But any sale above the original cost basis puts you on the hook for taxes on the profit above the original cost basis.
Schwab on gift tax issues
Code of Federal Regulations on determining fair market value of stock gift
But your cost basis and holding period is the same as the person who gifted it to you. The cost basis and holding period transfers.
So if the person who gifted it to you bought the stock for $100 in 1964 and you sell it for $1,000,000, you'd have to pay taxes on $999,900 of long term capital gains.
The fair market value matters when it is below the original cost basis on the date of the gift. For example, if the person who gifted it to you paid $1000 for it but it was only worth $500 on the date of the gift. In that case the fair market value on the gift date becomes your cost basis and your holding period begins then provided you sell at a loss below that fair market value. So your cost basis would be $500 and you'd take a $100 loss if you sold for $400.
If you sell at a price between fair market value on the date of the gift and the original cost basis, so between $500 and $1000 in my example, no taxes are incurred. But any sale above the original cost basis puts you on the hook for taxes on the profit above the original cost basis.
Schwab on gift tax issues
Code of Federal Regulations on determining fair market value of stock gift
This post was edited on 8/7/22 at 1:56 am
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