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Old 02-19-2010, 10:23 PM
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Unknown Tax Basis for mutual funds

I bought shares of Gabelli Growth Funds (Mutual Fund) in 1998 using Suretrade.com as a broker, but I don't know the exact date. I found the oldest statement that I have in my records from 1998 which shows that I owned a qty of 423 shares at $29.62 for a total for $12,556, but to clarify, I don't have the exact price I bought it at as I can't find the execution sheet or the monthly statement for the month that I bought it at.

Since then Suretrade was merged with QuickandReilly, and QuickandReilly has been bought by Bank of America back in 2004. So needless to say I can't find records of the original transaction.

In 2003 I transferred the shares to Fidelity (did not sell them get cash and buy new ones), but just transferred the shares as is to a Fidelity Account, and this past year 2009 in march when the stock market tanked, I divested out of the stock market completely and I sold the complete block of shares for $9100.

Since the shares were owned in my individual name (not an IRA), I have been paying taxes on the dividends each year... And now since I sold the shares qty of 545 in 2009 for $9100, and lost money since I bought them in back in 1998 for something close to $12,556, what can I report on my 2009 Tax return for Cost basis? Can I report the difference between $12,556 - $9100 = $3456 as a capital loss since I don't have any other records to go by?

Any guidance on this is very much appreciated.

Thanks,



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