disneysteve
Thinks s/he gets paid by the post
- Joined
- Feb 10, 2021
- Messages
- 2,443
I could use some help figuring out my cost basis on some inherited stock. I'll apologize in advance if this gets long or overly complicated but I'm a bit lost myself. Please ask any questions needed to clarify everything.
My cousin died on 5/17/2021 and left me 2 individual stocks, BK and EXC.
On the date of his death, BK closed at $52.09 and EXC closed at $45.09. I am positive about those numbers as I recorded them at the time, knowing that I'd need them later.
If I Google "BK closing price 05/17/2021" I get the same answer, $52.09. No issue there.
If I Google "EXC closing price 05/17/2021" however, I get $32.15 as a split adjusted price.
A search for EXC split history shows that there was a 1402:1000 split on 02/02/2022. However, all of my records from before and after his death and now show the exact same number of shares. But EXC spun off a division into a new stock, CEG, on 02/02/2022, the same time as that supposed stock split so I'm thinking that's what it refers to.
CEG closing price on 02/02/2022, the first day of trading, was $53.02.
Shareholder services shows my cost basis for EXC to be $45.09 and for CEG to be $45.00.
I'm confused as to what number I use as my cost basis if I sell EXC or CEG. Do I use the number shareholder services is showing? Do I use the split adjusted price for EXC? Do I use the shareholder services number for CEG or do I use the closing price (or perhaps the opening price) on the first day of trading?
Thanks for any guidance you can offer here.
My cousin died on 5/17/2021 and left me 2 individual stocks, BK and EXC.
On the date of his death, BK closed at $52.09 and EXC closed at $45.09. I am positive about those numbers as I recorded them at the time, knowing that I'd need them later.
If I Google "BK closing price 05/17/2021" I get the same answer, $52.09. No issue there.
If I Google "EXC closing price 05/17/2021" however, I get $32.15 as a split adjusted price.
A search for EXC split history shows that there was a 1402:1000 split on 02/02/2022. However, all of my records from before and after his death and now show the exact same number of shares. But EXC spun off a division into a new stock, CEG, on 02/02/2022, the same time as that supposed stock split so I'm thinking that's what it refers to.
CEG closing price on 02/02/2022, the first day of trading, was $53.02.
Shareholder services shows my cost basis for EXC to be $45.09 and for CEG to be $45.00.
I'm confused as to what number I use as my cost basis if I sell EXC or CEG. Do I use the number shareholder services is showing? Do I use the split adjusted price for EXC? Do I use the shareholder services number for CEG or do I use the closing price (or perhaps the opening price) on the first day of trading?
Thanks for any guidance you can offer here.