Tax Question??

[shadowkat]

Spoke too soon. Have a question - does anyone out there understand how to figure out a
"cost basis"? If you don't know what it is, you don't know.

Comments

[cactuswatcher.livejournal.com]

The cost basis is basically what you paid for it. Depending on what you have you may have to reduce that, if you've gotten any of your original cost (the principle) back through payments at any time you've had it. If you have stock and it split, the cost now covers all of the shares not just the ones you originally had, and there can be complications with that as well.