Sale of stock purchased through DRIP

[wsbjr]

What is the best or usual procedure for determining the cost basis of stock purchased through a DRIP program? Do Brokers usually maintain that information, or is that the stock owners responsibility?

[Matt Sova]

Drip

Brokers may have this info, but it is usually the responsibility of the shareholder. If the SH has statements from all prior years you should be able to figure out the basis. I usually prepare an Excel spreadsheet on the info.

[Jiggers]

DRIPs

The shareholders "SHOULD" maintain these records.

However, when you find one that does, let me know1

Most, and I say most, brokerage houses do provide that information by way attachment to the 1099B, or by an annual statement because they know that the shareholder probably didn't.