Hi,
Have stock from 1995 and sold this year, the 1099-B does not show the
"basis" at all. Can I do any of the following
-use $0 as basis?
-go thru all my stock records and calculate my basis?

Thanks for your help!!!
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“Have stock from 1995 and sold this year, the 1099-B does not show the
"basis" at all. “---->The IRS matches the proceeds reported on Form 1099-B to your Schedule D. At the most basic level, the cost basis of an investment is just the total amount invested into the company plus any commissions involved in the purchase. This can either be described in terms of the dollar amount of the investment, or the effective per share price that you paid for the investment. The calculation of cost basis can be complicated. The cost basis of any investment is the original value of an asset adjusted for stock splits, dividends and capital distributions. It is used to calculate the capital gain or loss on an investment for tax purposes. if you are in a situation in which your true cost basis is unclear, I guess you need to consult your financial advisor for professional help.

Thanks For Your Reply & Help!!

The NEW IRS cost basis reporting rules are set to go live in 2012. These changes will challenge and possibly cause headaches for advisors and their clients. The cost basis of an asset is calculated primarily for tax compliance. Finding an asset’s cost basis can be difficult, especially for items or investments that were purchased before electronic recording. The failure to keep accurate records of an investment’s cost basis means that the seller usually someone who inherits investments has to pay income tax or capital gains tax on the entire sale price. If they were to have a receipt or itemized list of purchase amount, taxes would be assessed only on the profit above the cost basis.
Previously the IRS required that brokers report only the sale proceeds on a 1099 to the IRS. In 2011, the cost as well as the sale of each security will have to be reported, making it impossible to cheat on cost basis and capital gains taxes owed.