Any info about Iomega (IOM)? Message Board

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Non-Tech : Any info about Iomega (IOM)?

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To: Naggrachi who wrote (51076)	3/24/1998 9:45:00 PM
From: Linda Pearson	Read Replies (1) of 58324

Zead, <I have a couple mutual funds transferred to my account from a family member. I have sold the mutual funds and I'm now working on my taxes. Here goes: What cost basis do I use? The basis that it was originally purchased or the basis on the day of the transfer?> I believe (I AM NOT A CPA) that if the shares were transferred due to inheritance, the basis would be considered at the time of the transfer. Otherwise, the original purchase price would be utilized. You should see an accountant, because depending on the amount of $, the IRS might like to know about it.... A call to the IRS would probably yield an effective answer. You may be dealing with something that you have to fill out a few forms for... Linda

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