For a detailed explanation of the rules for determining cost basis of a gift, see our website page: I Received a Gift.
In most cases, your cost basis will be whatever the cost was in the hands of the donor. However, there are situations where this case does not apply.
You can use our calculator to determine the cost basis for your gift if you know the fair market value on the date of the gift and the cost basis of the donor.
If the fair market value at the time of the gift was less than the donor's cost basis, you will not be able to know your cost basis for sure until you sell it! That is because your cost basis for a loss will be different from your cost basis for a gain.
Click on the image below to access the gift calculator
Information provided is intended solely for cash-basis U.S. citizen individual taxpayers and is believed to be accurate for most cases but is not guaranteed. Always consult your personal tax advisor about your own situation. Suggestions are most welcome. Please email our webmaster @ costbasis.com with your comments. If this website has been helpful to you, please consider making a donation to support our efforts.