Originally Posted by
ebaines
Please clarify: did you receive the stock shares on March 1. 2001, or is that the date of death of the person you inherited it from? Your cost basis should be based on the fair market value as of the date of death, which is earlier than the date it was credited to your account. So - do you know what the date of death was?
As for the data that Scottrade has - the only cost basis that they can be sure of are for trades you executed through them. That's not what happened here, so at some point over the past 12 years someone (you? or a financia advisor at Scott Trade?) must have entered a value for the cost basis of this stock in your account data. I suggest you call their customer service to ask how that figure was arrived at. You can also try going into your account and changing it yourself.
By the way, according to this site:
America Movil SAB de CV - AMX - Get Stock Split History your AMX stock has split 6:1 since March 2001. So if the decedant's date of death was March 1 2001, your cost basis would be $17.45/6 = $2.908/share. The lower figure from the yahoo! site is because they assume reinvested dividends.
Thanks for hanging with me on this, I need to find the original C/B I was given by the
Lawyer who handled the Estate. I knew nothing back then and I know very little more
today. Will get back soon. One additional point, I have not (until this year) done anything with AMX.
Update Father passed on Sept. 9,1997 on Jan. 24, 2001 I received 931 Shares of Telefonos de Mexico valued
at $46,782.75 with a $50.25 per share price. Using your split of 6, I come up with 50.25/6 for $8.375 as a rough
figure for today's C/B am I right or all wet?