I have a stock that is a spin off of a spin off. I actually have no idea how to calculate the cost basis. Is there any problem simply using a cost basis of 0? I dont think the IRS could complain about that since the taxes would actually be higher than what I really owe.
The second part might be where the IRS could have an issue. Could I then deduct a capital loss against the gain?
The second part might be where the IRS could have an issue. Could I then deduct a capital loss against the gain?
