Sold stocks in 2014 that was gifted to me from my mom. Trying to do taxes but my FORM 1099 is missing the "Cost or Adjusted Basis". How do I proceed with my tax return with that?

This may help

Valuing a gift of stock for capital gains tax treatment

The good news for the recipient of a gift of stock is that there's no tax on the gift itself. It's when the recipient decides to sell the stock that the issue of valuation comes up. And this is where things get a bit more complicated.

In general, when valuing a gift of stock for capital gains tax liability at the time of sale, it's the donor's cost basis and holding period that rules. As an example, let's say you receive a gift of stock from your grandfather. He bought it for $10 a share and it's worth $15 a share on the day you receive it. If you then sell the stock, whether for a gain or a loss, your cost basis will be the same as your grandfather’s: $10 per share. Sell it at $25 and you'll pay tax (at the short or long-term rate, depending on how long he owned the stock) on a gain of $15 a share; sell it at $8 and your capital loss will be $2 a share.

But now let's say the stock your grandfather bought for $10 a share was only $5 a share on the day you received it. If the stock continues to go down and you decide to sell it, the fair market value on the date you receive the stock and your holding period (which also begins on the date you received it) is used to determine your loss. So if you sell the stock for $3 a share, your capital loss will be $2 a share and your holding period will be measured from the transfer date. However, if the stock price rises above $10, then the original cost basis and original holding period transfers over to you. For example, if the stock in this case rose to $15, you would report a $5 gain and your holding period would be measured from when your grandfather first bought the stock. There is one important exception: If you sell the stock at a price somewhere between your grandfather's $10 basis and the $5 fair market value, no gain or loss is recognized.

/r/personalfinance Thread